the analogy makes no sense at all...
it was more an ironic paraphrasing than an educational analogy, but still ...
both are 'companies'
doesn't operate like McDonalds,
both strive to maximize audience and profits
nor does it "sell poison"
mcdonalds could sell high quality or original burgers or whatnot. they opt for standarized cheap products that appeal to masses, supported by a heavy marketing campaign, specially aimed at young and infant audience with little gastronomic or nutritional judgement. why else would they give away toys with burgers?

anyway, i guess the point is the desire of maximizing the audience over any other parameter.
btw, everything is poison depending on the dose
i'd wholeheartedly recommend you don't abuse industrial fast food, but be my guest ...
What Elite does do is offer a way for people to play a game they enjoy their way and to be flexible about it. That you consider that the "lowest common denominator" is puzzling.
while the mode oddity is indeed flexible and makes many 'ways' possible, it is anything but optimal for any of them in particular. the virtual world could be an example of cognitive dissonance precisely because of modes, multiplayer is so-so, pvp is directly disfunctional and solo works fine but could be so much better in many aspects if frontier could have invested in it the time, resources an energy that went instead into the complexity of a multiplayer system that in the end is way below average. same can be said of the effort of compatibility for consoles (and the drop in quality, i know this is a controversial topic but that's just my take on it, no need to go into that right now, you just asked) and although that is a different topic than modes it boils down to the same: more audience instead of a better game.