I agree with a lot you said in this post, but Elite Dangerous doesn't disrespect the player's time any more than most games. It simply gives you reasons to keep playing other than a love of spaceflight. It gives you more goal options than most games. Most player career games require quite a bit of time to develop your character where you can take on the BIG BOSS or buy the best ship or accomplish the goal you've set for yourself. Elite Dangerous however, while it doesn't have boss battles, has many, many more goals you can set for yourself. It takes time to purchase and upgrade your ship so you can accomplish those goals. And it should. If it didn't it would be too easy and people would get bored, and therefore be done, in 10 or 20 or 30 hours of playing.
Well... They're now implementing a new engineering system which down-grades the top rolls of the previous system, and forcing players to adapt/adopt the new system. That in itself is disrespecting the player's time already committed. Additionally, there is absolutely no reason to do it, other than the usual bad design they continually peddle as enriching gameplay.
There was/is no problem with the current system except for the grind factor, and the storage space. The grind factor could easily have been fixed by making the materials more accessible. The storage space was/is just a figure! Now they're changing it to a galalctically stupid design where you have to go through all 5 updates even if it's the same module type as you've just learnt.
To put that in normal MMORPG terms we'd go from 1 to 100 in crafting mage robes, then have to go back to 1, to relearn to 100 to make the next mage robe!! I'm betting if Blizzard introduced that tomorrow, they'd be laughed off the stock market!
People don't get bored by having the top ships. They get bored because there is nothing to do with them once you have them, after going through hoops/grinds to get to them.
What we do in ED, is grind credits/materials to get the best ship we can, and then find, woo woo, oh wait. What do I do now with my mega ship? Absolutely nothing. They come up with a thargoid story for us to apparently tests our ships against, they nerf the weapons, then expect us to accept the constant rebuys. Yet, remove the only viable fast way to get credits.
What are we supposed to do? Grind for ship, grind for materials, grind for modules, grind each module from 1-5, then go attack a thargoid, and lose ship, then grind the 40m+ rebuy back and continue ad' infinitum?
I find it hard to accept/believe that any game design company can think this is engrossing/enriching/entertaining.