I'm pretty much in the same boat as
@Paul Eddington. Didn't back Elite at kickstarter/LEP stage, kind of wish I did as it wasn't really that much in the scheme of things. SC was cheaper at the time... but I've got tens of thousands of hours in Elite (from the original through F:E2, FFE and ED/Horizons/Odyssey).
You can grind for the entry level mining ship (mole I think) in the SC alpha in a reasonably short time if you run decent missions/trade routes (when/if the trading is working at the time). I've not actually played in a few patches, really should check it out, apparently the gas giant landing zone is dropping soon which could be interesting, especially if they rehash the racecourse there.
I disagree that you can't do much in SC - I think you can do 'more' than in Elite, but in a much, much more constrained space. The gameplay is much more 'immersive' - you definitely feel like a person, not a ship/business manager. But that's come with a massive development overhead. There are things being simulated which are borderline insane for a game project in my view. Conversely, Elite's ship-centric model definitely seems to be biting it in the butt right now.
As ever, Elite and SC are approaching the same target from different directions I think. One is historically overdeveloping and struggling under its own complexity to achieve feature stability, the other is underdeveloping and is built of oversimplified layers kludged together that at any point can't quite achieve the vision of the next stage.
It's worth saying if you're thinking of looking at SC that it's very, very resource-hungry. You absolutely need a decent rig (good CPU, 32Gb RAM, plenty VRAM and a chonky GPU), and critically, you really must install it on an SSD. Be prepared to spend a good amount of time fiddling with the config, too. They're really not bulling when they say it's alpha. It's interesting, can be fun, can be impressive, has some (mostly) stable gameplay loops, but it's not a full product yet. So, sort of like Odyssey cranked to ultra with more features in a single system.