tldrIts a video game based on physics in real life though:
Source: https://www.reddit.com/r/EliteDangerous/comments/c1ytj2/an_explanation_of_the_fsd_by_cmdr_azmuth/
The FSD is not real and neither are its physics. The FSD allows you to travel faster than light, which contemporary unproveable quack alchemy holds is impossible. And as you travel faster than light, it also allows you to see the light of everything around you as if you were motionless relative to it, without any Doppler distortion at all. And no one knows what black holes are made of, beyond they are observed to be collapsed remnants of enormous stars, whose density creates a gravitational field strong enough to trap light, and consume whole star systems.
This is a game not a simulation, and too many liberties have already been taken with known physics, and the rest of the astrophysics are as yet entirely unknown, to be able be create an authentic simulation of what happens with black holes in this game. So any discussion of the physics is pointless, and merely obstructive to devising a black hole mechanic for the game that is adequately convincing, compelling and fun to engage with.
To return to the op then. The op is right. Black Holes are a placeholder that it is high time was fleshed out. The light distortion already implemented is very effective, but the black holes are just a point without any event horizon, that is to say the enormous spherical black bubble around the stellar core remnant from which no light (and therefore no information of any kind of event, hence 'event' horizon) can escape. That really breaks the immersion for me like an 'Under construction' page on a website.
The monstrous singularity at the heart of the M87* supermassive black hole, at the centre of the giant elliptical galaxy Messier №87, about 55,000,000L-y away, has consumed so much matter that it is observably firing collimated jets of heliacal plasma out of its poles at six times the speed of light, across thousands of light years of space, turning hundreds of star systems into immense fireballs in its wake, and setting the interstellar medium of the entire galaxy, thirty times more massive than the Milky Way, ringing like a bell with an abysmal tone that is 56 octaves below the bottom note on a piano. A piano string 14 light-years long would be required to produce such an apocalyptically portentous note. The event horizon surrounding the stellar core remnant is about the diameter of the orbit of Pluto about Sol, 19.7kls, representing a bubble of complete void the size of the entire Solar System out to the trans-Neptunian region.
Whilst there is nothing quite so awesome and terrible in the Milky Way as M87*, there should be enormous black bubbles bigger than stars at the centre of Black Holes and their light distortion effects. And whatever anybody says about FSD physics, entering those bubbles should be certain destruction for any starship, and drawing close to them should entail the deadly peril of being pulled in or else ripped apart trying to escape.
Discussions of any games of 'chicken' or event horizon surfing, or sub-event-horizon research opportunities, that imaginative developers might like to implement with new larger Black Holes in Elite Dangerous, or any other pertinent ideas, are now invited.