As good as the Cobra engine are in some situations, it's not the best graphical engine, however improved a lot during the development of ED.
I guess FD knows the issues and are working on them.
Its not the Engine's Fault. Other known Engines have the same Problems in rendering this Scale. It has partially to do with Scope: Target Texels smaller than Pixels - thats why doubling/trippling the Texels per Pixel helps with the Issue ( Supersampling ).
The base AA Methods just apply a few Methods of Standard AA Filters on the Last Stage/Batch. Which works for Shooters and the such mostly because they dont have to render this Precision. Then, there is also Deferred shading which you can basically imagine as combining several Texture plates to get the Final image. Whereas the Background is one, the planets and then your Cockpit and then the GUI. AA Simply looks at the combined image but has not all precision from each batch at Hand.
And this AA Problem is actually a Matter of teh Display Device not beeing able to cope with the rendered precision ( This is a very new Problem and shows that the COBRA Engine is indeed up-to-date ). A temporairy fix has been developed by AMD with Temporal AA Methods which solve most of the Problems by loosing very less Performance but can increase blurryness on fast Movements. This Method is slowly adapted but still not perfect. FDev may introduce this somewhere towards the ps4 Release. For AMD Users this can be driver enforced / For nvidia ill have to try sometime ( got both in my rig while i mostly play on AMD while my Geforce renders on other stuff - but thats besides teh point ).
Hope this clarifies some things for less tech savvy people.
ps. i am an engine dev and also did some work on lumberyard ( the iteration of CE that SC now uses ) - which struggles with exactly the same problems. Todays GPU's deliver too much Precision for our Age Old-every-pixel-has-the-same-size Display Technology.
If we can make - based on some sane settings ( Ultra in this case is not always better because it also increases needed precision from the display device ) a few comparison shots - we may be able to find the right settings for people, which look better and less jagged in the end ( even if not everything is called "Ultra" - because thats part of the Problem! Your saying teh Engine it shall do its best - and its best is better than what your display can handle ).
Its not a simple Task to balance the Settings out ( there's alot more in the XML File ) for every Display Configuration/HMD Multimonitor Setup out there. So, if somone understands a little about what i was talking about with a recent Geforce ( i got only a GTX 780/4G to test with ) we could work something out for the most common Resolutions... Or ill simply hit Dr. Kaii on it.
i hope everyone + their Spacecat gets it now
Cheers!