I suspect that with the way the optics on the Vive are designed to maximize FOV, a good amount of the rendered pixels from ED, and OLED display pixels are wasted for most people because they are outside of the HMD FOV. This causes Vive to have lower pixels per degree than Rift CV1, both in terms of rendered resolution and OLED display.
The rendered resolution part can be mitigated by increasing supersampling ratio above 1.4x. ED anti-aliasing currently isn't great. Improving anti-aliasing would go a long way towards improving IQ in the HMD.
ED actually looks great in the Vive with 2.0x supersampling and SMAA but not even 980 Ti can achieve 45-90 FPS with these settings.
If SteamVR or ED were to provide an option to render to a smaller viewport, we can run at higher SS/AA settings by not rendering what can't be seen.
It doesn't make sense for HTC to design its HMD in a way that screen pixels are wasted (i.e. not visible). It doesn't make sense either from an engineering or from a business point of view.
There are two major factors affecting how a scene is viewed differently on the Rift and on the Vive. One is, indeed, the FOV and the second is the aberrations (of geometry and colour) of the different lenses.
Regarding the FOV, having same resolution on a wider (visible) FOV means that, indeed, the DPI (dots per inch) will be lower on the Vive compared to the Rift, hence, the perceived resolution will be lower. However, both HMDs require rendering with geometric aberrations in mind. Hence, if the game can be rendered to look good on the Rift, the techniques are available to make it look good on the Vive. It is a matter of optimisations in the rendering engine of the game.
Regarding the geometric aberrations, I would expect SteamVR library to take good care of that. If Frontier have written their own code to wrap the image and compensate for the lenses' aberrations, they have to optimize their implementation for each HMD separately.
I have a very good example from a similar (optimisation) issue. When I first bought a Macbook Pro, I was very surprised and disappointed by how badly Mac OS X looked on my existing, non-Apple, HDMI desktop monitor (1920x1200 pixels). I soon found out that Apple hadn't optimized the fonts and the UI elements of its OS for "Windows-compatible" resolutions! Notably, the particular Macbook Pro happens to run on a standard Intel i5 CPI with integrated graphics, i.e. same hardware as a PC. Still, it looks horrible for simply Apple -meant- not to optimize its OS to work well with non-Apple hardware. Same goes with its trackpad drivers for Windows. The Macbook Pro trackpad is smooth as silk when scrolling in Mac OS and of very low resolution (jumpy) in Windows, on the same machine. Notably, again, the drivers for Windows are also written by Apple, hence, they are meant to behave differently in Windows, compared to the Mac OS X.
I hope Frontier doesn't have good reasons not to optimize Elite Dangerous for the HTC Vive. I purchased ED specifically for the HTC Vive and, clearly, it doesn't make sense purchasing any ED upgrades until the game is optimized for the HMD of my choice. Assuming a software solution is technically feasible, I look forward to such a solution arriving soon. If it's a matter of hardware limitations, then it would also make sense for Frontier to explain such limitations in more detail, so as to allow customers to make better informed purchasing decisions.