Hmmm...."tipping point" for what exactly? I'm not a purist who plays Elite as the one and only game in the Steam library.
At the moment I enjoy Elite. It's that simple. The scale, the exploration, the visuals, the atmosphere...there just isn't any other game out there that offers me the same feeling. With or without New Era. I still don't play Elite 24/7 or as my "primary" game though. I play it when I feel like it. If I don't feel like it, I just play something else. Over the last couple of months it was Bannerlord, Fallout 76, No Man's Sky, Cities: Skylines, Stellaris. Just to name a few. As you see, I'm not even invested in the "genre", so the argument "But Star Citizen isn't even finished yet" or "But NMS is a different game!" don't really applies to me. I play games for enjoyment.
So, I while I do have some hopes for New Era and although I do hope it's going to live up to the hype, I am also "relaxed" about it. If it fails to deliver, I'm just not going to buy it. Simple as that. Either I play Elite every now and then in it's current state and ignore the "new stuff"...or I just move on. You see, I used to love the X-Universe. X-Beyond the Frontier and X-Tension were the first videogame franchise I ever really bought into and I think the franchise peaked with X3-Terran Conflict. Rebirth sucked and I hated it. When X4 was released I took a look at it (via the family share option on steam)...and decided that I don't like it enough to spend money on it. I don't have any particular grudges or feelings regarding X4. I'm simply not interested in it anymore and moved on. Maybe I'll pick it up one day for a 75%+ discount. Or I won't. The same would happen with "New Era". If it delivers: Cool, I'm game. If it doesn't deliver: Who knows? Maybe I'll pick it up in a year or two on a discount and give Elite another try. Or I just do what I always do when videogames aren't fun anymore: I move on.