It's even less valuable now that the bio scanning etc is there. Just from buckyballing and honking through a few dozen systems on the search for cool sights I made triple digit millions in a couple of hours.This shouldn't be on the issue tracker. It's not a bug!
The issue tracker has enough problems as it is, but part of the reason things can't be looked at properly is people use it incorrectly and spam it with feature requests and then brigade others to confirm and vote up pointless things.
Some Elite ranks like Exploration have been devalued for years. Exploration payouts have had 3 increases over time, the bump at 2.4 for terraformable worlds was pretty big, but with the introduction of the FSS all bets went out the window. The rank thresholds have not been updated since release.
I know someone who's highest single system reward is 70 million credits. That puts you over halfway to Pioneer which is the 6th of 7 old ranks! You can do this in a Sidewinder with a DSS.
Elite ranks have meant nothing for years.
The balance as you correctly stated is totally off since the beginng. But instead of rebalancing we now have just an extension of the scale.
Don't get me wrong, I'm now 7+ years around with the same commander and I simply don't care about these ranks anymore but I think they could have come up with something better than just what they did.