If you don't think it's a big deal fair enough

I think it's a big deal, I did before other exploits were acted upon, I did when they were & I still do. My preferred solution would be one that doesn't meaningfully impact on those that are not trying to cynically find a way around the game rules.
This thread contains quite a lot of information from posters far more knowledgeable than me, I have learned a lot since I started it and my view has evolved with that information.
So what is the real impact here? Who are the ones that uses this so called loophole? and what impact does have on the overall game? It would be a big deal is PvP was the MAIN purpose of this game, but that is not case, and if you believe that PvP is what the majority of the players in Elite do, then you are very misinformed.... We know this by statements made by FDev. We can also see the evidence in player run activities.
Distant Worlds 2, over 10 000 signed up players... what other activity have gathered that many players? When I asked before about big PvP events, I hardly got any events to list, and then few ones that was listed where more of an handful of players, up to maybe 100-200 players. So conclusion on the overall scale on game impact, this does not appear to be a big problem.
And with the generous option to block players that you do not want to instance with, this is problem that now can be reduced alot more...
So if we ignore all the PvE uses of this... players escaping death from environment/NPC...
So then we have a few PvP situations.
Player engage another player in PvP, most likely by interdicting the other player, and the victim, could straight away or rather sooner than later, decide to pull the plug...
Now one or BOTH player, can block the other player. So from a game perspective, both player could consider the other player dead, as they are now very unlikely to encounter each other again...
Impact on this is very low, one player did not get to see the other go up in an explosion... and it is most likely the victim is the one that would block the aggressor... so even with rules you can only play in the previous mode for the next 1-2 hours etc, the block would essentially hide that player from the other player, despite if the other decided to stick around and wait...
Ganker attacks weak player, other players comes to defend the player, and ganker pulls the plug. Nothing changes, we all know the ganker is wuss, and facing real opposition is not their idea of fun... so just as in the previous example, ganker can block the defenders and is less likely to encounter them again... so ganker can keep on preying on weak victims, while keep blocking or the defending players...
Before blocking, the situations was different, as now you did not many options to opt out of being other players content. Now you can, and thus this whole debate about pulling the plug in a non competetive PvP game is mostly useless...as the impact is most likely negligible on the overall game experience for the vast majority of players.