The crux of the LEP dispute is moot due to the fact that Elite is still in development so trying to get all legalese about it is pointless until Frontier categorically state that they are halting development of the game, which they have not and there is no grounds for any reasonable expectation that they will by the looks of the development roadmap they have announced, proving any claim that Frontier are halting development to be rather spurious from the perspective of anyone at this point in time.
Now, being upset at the pace of development is understandable but trying to pivot that complaint to justify the claim that the LEP has not been fulfilled is an attempt at misdirection, intended or not.
To look at the financial aspect of the LEP as a like for like sum of the price of the LEP to compare the value for money exchange is fine, and based on that the equation for some still leaves value on the table and for others still some to break even. But again, this will only become relevant at such time that Frontier announce that they will not be releasing any more paid updates, which they have not.
It's also subjective as to whether anyone likes or dislikes the fact that Frontier have deemed the early access ship PDLC to not be encompassed by the LEP and whether anyone feels that Frontier should 'be nice' and give early access to LEP holders. If things over the last couple of years were different then I can see it but I personally don't have an issue with it. I don't have an LEP, only because I ended up leaving it too late, and if I had gotten the LEP, I would still be fine with the situation as is, but again, that's just my subjective view on it. I don't think there's any relevant legal argument to be made against it either.
Now, if Frontier choose to switch from releasing paid expansions to using early access ship sales & other pdlc to fund expansions to be released for "free", then I would understand that there could be a need to settle with LEP holders to resolve any reasonable outstanding value disparity some LEP holders feel they are due. But yet again, that would depend on that intention to switch being formally announced.
Personally, I think the early access ships etc.. will likely/hopefully help justify and fund future paid expansions, and might contribute to them being released for around $20 rather than $60, but that's also down to a lot of equations that none of us can know. I would be surprised to see Frontier move to free future expansions funded by early access ships, so again, I don't think LEP holders are being left out but rather being asked to be patient.
FWIW; I think the income earned by the game from last year and this year will be used (among others) as a metric for the scope of any future paid expansion developement, and if this year is like the last it wouldn't surprise me to see an announcement of intent for the next expansion towards the end of this year, or early in 2026.