Personally, I feel like the not-taken-into-account gameplay killed the lore out of the starting blocks. When one can build a ship to reach the galactic core in an hour, the 3-way fights for resources in the bubble seem ludicrous. So does the random colonisation in one area of the galaxy which... contains the exact same resources as anywhere else. But nowhere else gets colonised for some reason. And Sothis is still under construction (or maybe it's complete now, I haven't been there in a long long time).
The lore is tied to the tech level in the old games. But the FSD should have completely changed things, flipped human civilisation on its head. Instead, it hasn't, and there's a forced push to have Alliance/Federation/Empire somehow plot against each other instead of racing outwards towards infinite resources. Same goes for independents. Where are the communities flying out to colonise empty systems and claim their own system? The FSD should have resulted in a diaspora like never seen before in every direction, not in a deus ex machina space motorway between Sol and Colonia. Even more so with an alien threat roaming around.
This is imho further exacerbated by the introduction of PowerPlay and the focus of story/news on a handful of caricatures of 21st century politics. Yes, this is a cool throwback to FFE's newspaper, and I won't lie, they were fantastic at the time, bringing a lot of life into an otherwise static game. But in ED, it just amplifies the game/story discrepancy and makes it feel like someone played a bad joke by editing my twitter feed. The lore drama seems desperately inconsistent with the social changes you'd expect from the tech level.