Well not really, because the events in an MMO can be played through by any player, for instance in LOTRO and the Battle of the Pelennor Fields, while we of course know what happened from the books and the films, and you can watch vidoes on youtube of players playing it, the battle can always be played by players passing through that leveling region, but you can't re-play stuff that happened in Elite Dangerous, I mean look at the finding of the first guardian ruins for instance, you can visit them, you can find out where they are in game, but you can't take part in that adventure of hunting them down, or Jaques abortive jump to BP and eventual rescue, they can't be played again, or the finding of the Alexandria.
The main issue in Elite Dangerous is that everything happens in real time, and once it's passed it never comes back, it can't be replayed by new players, and most MMO's don't operate on this basis. LOTRO, BDO etc the full storyline can be played, or you can skip it and power level your characters in both games if they are alts and you've alerady played through the main storyline, but any new players can fully take part in the story line from the beginning to the end. One of the problems with the ED game model is that there must be a continuous stream of brand new content incoming to run a storyline because old storylines can't be replayed by new players.