I'm also a LEP owner and tend to play weekly, so there is usually an update every month or so that I need to install.Yup. Except that Steam does https://store.steampowered.com/app/1336350/Elite_Dangerous_Odyssey/
It is just that frontier don't want to provide steam keys for whatever reason and thus make an LEP a(ne even) worse value than just shopping sales.
I get that most folk will have problems with basic empathy but I have a lot of speed issues with the frontier content servers and thus would MUCH rather rely on Steam. Let alone the benefit of background updates while I am doing other stuff.
And, honestly, this is a horrible look for Frontier. I am not going to pretend that I thought they were doing good by the suckers with LEPs before this. But this is actively a worse experience because they want to migrate folk to the frontier launcher or want to inflate hours or are somehow using this for some NFT crap. It is Frontier saying they don't want me to play the game I bought and... it sucks but I guess that is what is going to happen. The good news is that the sunken cost fallacy of the LEP is already long since absorbed after it became clear FDev were moving away from the expansion plans they sold that on so...
A bit of a protip, but if you turn on your pc and click "update now" in the launcher 30 mins before you want to play then you don't have to eat in to your gaming time.