ACTUALLY THERE IS AN EXPLANATION!
Firstly, everyone who thinks you can just keep accelerating in a straight line in space... YOU'RE WRONG. While you can just keep accelerating it's not in a straight line, your course will always be curved by the gravitational pull of stellar bodies, both near and far.
When in orbit of a planet simply thrusting and then coasting directly towards something won't actually get you there unless the distance is very short as you will quickly move to a higher, lower or differently angled orbit and start moving away from the point you where trying to get to.
If you have 2 objects in the "same" orbit, to catch up, you need to slow down, drop into a lower (faster) orbit, catch up and then move back up to the original orbit. Initially the relative distance increases, but the sooner you do this, the more time you have to catch up. If you look up some kerbal space program stuff you can see this in action.
Now in Elite almost all points of interest are in a close orbit of something, nav beacons orbit stars, stations orbit planets and rings orbit gas giants. So in reality when your near a station your speed isn't say... 100m/s... it's more in the order of 7667m/s (the international space stations speed) + or - that 100m/s.
Now the question arises, how do we fly directly at things like we do in elite? You fly directly towards the stations and you have no trouble running rings around asteroids and the whole time you fail to cannon off into a different orbit like modern physics predicts, how is this?
The Answer: All ships in elite are constantly correcting for gravity and/or centrifugal force using their maneuvering thrusters. Every single ships has thrusters pointing in all directions. Modern space ships can't do this as they don't have ion/fusion thrusters like the ships in Elite do. If modern spaceships tried to do this they would run out of fuel in mere minutes.
Of course the faster (relative to orbital speed) one of Elites constantly correcting ships go the harder it's thrusters have to work to stay on course. Thus we have a reason why ships have a max speed.
Now a Elite ship could just hard burn in a direction and continuously accelerate... but that's a bad course of action as missiles and cannons (which lack omnidirectional thrusters to course correct) would have a much easier time catching you if you did that. Instead all ship computers keep their vessels in a given orbit at speed faster or slower than that orbit should be as a defensive measure against long range cannon sniping and single maindrive conventional ships (which have since gone extinct).
TLDR: Knowledge of Newtonian Physics alone isn't enough, arguing about space flight is an ASTROPHYSICS field, not a bog standard physics field. Go get educated on orbital maneuvering and then come back to argue space ship maneuverability. Don't say something like "If the game followed proper Newtownian physics you'd just be able to keep accelerating" like it's the obvious missing piece of the puzzle, it's not, you're just 3 steps behind.