I absolutely adore the graphics and the flying-about-ness. It's second to none. I love astronomy!!
But, that excellence, for me anyway, only throws the dearth of a good 'game' into stark relief.
But still, you fail to say what you believe the "game" should be? (for you)
Should their be a direct goal for you to become "Dictator of the galaxy?"
Should there be a call for everyone to join the fight and save humanity from the evil Thargoids? (Gee I hope not!)
I think you miss the whole point of Elite. There are not "Game goals", all achievements are pretty meaningless outside of the context of your player.
You cannot "win" the game, there is no end! It just continues.
There are many things to do. Pick a profession and do it. I mean lots of folks have been spending hours rescuing civilians from the Thargoid attacked stations and make lots of credits doing so. Is that something I would do? No, but I'm sure they enjoyed doing it.
You see I do what I like to do in ED and am not "forced" to do thing I do not want to. Do I grind for engineers and materials? yes, do I like it? not really but there is a reward at the end and I get cool engineered modules. But the key is I am not forced to do that, I could just as well not ever visit an engineer.
Do I pledge to a power and grind power play? No, tried it and found it the most boring unprofitable thing to do. Sure there are some cool toys you can get from doing it but I like to travel all over the bubble and I don't need some PP thug shooting at me just because I'm outside my Power's space. Do some other folks like doing this? Yes.
You see, it is all about what you like to do in regards to ED. if you cannot find that then by all means as others have said, maybe it is time to move on.
I have tried other games, purchased other games, I have not found one that captures my attention more than ED (Rocket League is close but that is just mindless fun!)