If I was to critique Elite Dangerous, it would go something like this:
Graphics: Pretty amazing.
Sound effects: Awesome.
Music: OK, but a bit too slow & understated for my tastes.
Representation of the galaxy: Stupefyingly good really.
Spaceship flight 'simulation': Great fun, and takes a long time to master. Spot on really. Fun, and about as "deep" as it could get (without turning into a tedious flightsim).
Spaceship configuration: Very detailed, lots to experiment with, without being overwhelming. Maybe not perfect (need a few more malfunctions for spice), but still great fun.
Spaceship battles against NPCs: Fairly decent (about as good as NPCs could be really).
Individual activities (trading, mining, bounty hunting, etc) : Quite detailed, and certainly fun to do for a while...
... but your actions feel like they have almost no effect on anything (whether that's the galaxy as a whole, the star system you are in, or to a certain extent even your own reputation).
And this is probably fairly unavoidable in a massively multiplayer game, because if individual players COULD have a significant effect, the multiplayer world of Elite Dangerous would fall into chaos, and break pretty quickly. So it's the decision to have a single universe state (shared by all players, both on & off line) is the curse of Elite. We cannot be like the main character in Skyrim, and so it's not possible for us to feel like we matter like we did in Skyrim. We may have a significant effect on the network instance we inhabit, but as soon as we leave the game has to forget what happened, or else the cumulative effect of all players would leave the area in an unplayable state (all resources collected, all station defences destroyed, etc). The only semi-persistent effect you CAN really have is on other players. And so some players are drawn to killing others.
The other curse of Elite is it's decision to have a game world so massive, the only way to fill it in is procedurally. That unavoidably results in lots of similar-looking places (see No Man's Sky). It also means it's very difficult to have complex (i.e. interesting) area on planets, so the base locations end-up being very similar (and often with not much to do).
So is Elite Dangerous destined to lack fun? No, but it does mean it will only be fun to certain types of players. If a player wants to be part of a meaningful story, they're going to have difficulty finding in Elite Dangerous (even with multiplayer). The sort of player who has a chance at enjoying Elite Dangerous is someone who loves space so much that just flying through it (or driving on a distant planet) is a constant thrill. Then the game activities give them something to do, an excuse to enjoy the atmosphere. (I'm probably one of those players.) But what about everyone else? They can enjoy Elite until they've mastered control the ship & mastered whatever activities take their fancy - and then the repetitive sameness of those activities will be a big disappointment, as will the lack of a story.
Elite Dangerous is fundamentally a niche game, best enjoyed by hard science fiction fans & space enthusiasts. FDev's difficulty is finding other niches that some players will enjoy. One of those is PvP, but as the game isn't focused on that, the experience is not always what people want.