(mod hat off, btw)
Actually, I think it may be attracting a lot of "younger" players who are used to immediate gratification, who are less able to accept a "framework and build upon it approach" as opposed to a console title you can complete in 20 hours but which is "complete" in that respect.
The original Elite was never about scores, or lives. But yet with ED we have people trying to min/max, and race to the "end". But there is no end, so when they get there, they complain about a lack of content while looking out of the cockpit window to a universe of 400 billion stars....
Granted, there were design proposals which have not yet been implemented, but as far as a deliverable goes - it does what it says on the tin, with the exception of multiplayer options/comms which we're all hopeful 1.2 will provide.
With Elite, FE and FE2 one thing was obvious - you were in it for the long haul. That's no different for ED. So, for those who don't want to sit back and enjoy the (possibly in your perception glacial pace of) ongoing development and feature addition - just check back every few months and explore the new features. It's not like it's costing you a monthly to do so. Meantime, there's plenty of fun for people who enjoy a more relaxed pace of gaming to enjoy.
(I realise that the above may be slightly ironic as the author of a tool which exists to provide min/maxing on cargo runs, but that's more to do with lack of information than racing for the end game - after all, I'm still in a Hauler.... I know, right??).
Granted I'm not as old as you

When the original Elite came out I was still knee-high to a grasshopper, but I did grow up playing Atari and ZX Spectrum in the 80s so I'm old enough.
That kind of thinking though doesn't cut it with most of us these days though. Like it or not, ED is competing with the already established Eve in the niche space, as well as many other established games.
In the space (no pun intended) other games have tried (Jumpgate, Earth & Beyond, heck even Freelancer) and have all fallen by the wayside - Eve, for better or worse, is the only one that managed to cut it and most of it's core subscriber base have kept with it for > 10 years and with active subscriber account makes at least between €3-5m a month.
I know it's never popular to bring it up, but quite simply it is the benchmark that two years ago Frontier should have been working towards - not necessary all the features, lets keep sovereignty out of it, but that doesn't mean you could not have had player owned features & crafting, a working instancing system (I read the KS and back them they claimed the P2P tech was tested and working, but I think the beta and launch has proved that was optimistic at best) - or dynamic mission chains, random missions, and working factional warfare - pretty much any MMO has it, even Minecraft has it. People will argue back and forth that it's not an MMO - but when offline mode was definitely dropped it became that.
I know, and I've said it myself, that people have said "When Eve launched it was a buggy mess and had no content" - well yes that was 13 years ago when the web, and modern game development in general, were still in their infancy. Frontier is a 20 year old company - they are making mistakes like a bunch of rookies would have done (and I know I've tried and failed to launch a £300k development studio 15 years ago making a space game very much inspired by Elite, then switching to a shooter because we were young and stupid).
Now Frontier has stiff competition chasing it, and having a head start Frontier should not squander it, but myself and others are concerned that through hubris or sheer bloody-mindedness Frontier will continue down a path that sees most players not sticking around and all that's going to be left are a handful of KS backers - at which point Frontier might just decide it's not economical to run the game anymore and switch it off (and the offliners will surely come back and gloat about that).
Many we promised a game, and even late last year DB was saying the "full game" would be released in 2014. Now I don't think any of us were under the illusion that it would be the COMPLETE GAME, that's how MMOs work and new features are added with every content patch - but these days most games launch with at least enough content to keep people going for 3-4 months until the next big content patch.
Instead we're seeing people who joined us in December already bored and leaving, even today one of the "silent majority" piping up to say they might not come back. We hear arguments of "give Frontier a year/2 years/until Planetary Landing is added" but quite frankly that just means most people will look at this as another £40 wasted and move on. I know I've had £100 of enjoyment out of the game so if I cut loose today I would be disappointed but not angry.
On top of it, my own gripe is Frontier are terrible at communications, both direct with the community and through marketing - the perception is neither know what the other is doing. Marketing blunder in with grandiose statements and flashy pictures and videos. The devs come on here - Sandro tries, Michael comes across with snappy one lines (that are more and more starting to look like he has cut and paste responses to everything).
Again it might not be the case but everything Frontier have done with Elite: Dangerous, and even ED itself comes over as amateur hour. And quite frankly after seeing what happened to Molyneux, Mr Braben should begin to be weary of what he continues to promise.
Anyway it's well passed when I should have gone to bed, sadly my video (and possibly my last - I don't want to over-promise on that and no deliver) is taking ages to upload so I shall have to leave it along with this treatise I never intended to start at past 1am.