I can't consider handicapping myself immersive.
I see this sentiment often, but I can't say I understand it. There are two ways I look at it. First, what you call "handicap" I call realistic. A lot of games allow you to either mod them or just go into the console and type "GodMode", and poof, you have an easy game. Does
not typing "GodMode" in the console mean I'm handicapping myself? I think not. Now looking at a game like Elite, my immersion is directly tied to realism, and bouncing of the ground at 100 m/s without a scratch is not realistic to me at all. Even in ST-TNG, where shields are quite OP, collisions were always catastrophic (ST:Nemesis comes to mind). So equipping and engineering a ship to be invincible in scenarios where it shouldn't be is the equivalent to typing "GodMode" IMO, but you do you, and I'll continue enjoying being a handicap by your definition.
Oh yes, the second way I look at what you call "handicapping". Luke Skywalker probably could have commanded a capital ship if he wanted, but instead he preferred flying a humble X-Wing fighter. By your definition and others, Luke was "handicapping" himself, but that's not how I see it. When I fly a shieldless Cobra or even an Eagle into combat (or exploring for that matter), I just simply see it as more fun. Part of that fun has to do with the challenge, but mostly it has to do with small ships being more fun to fly IMO. I have a combat Mamba with way more DPS than my Eagle, yet every time I bring it to a RES or Combat Zone, I inevitably swap back to my Cobra or Eagle, just because it's more fun. I play games for fun. It's a GAME after all, and if it's possible to have fun by tweaking the settings (ie - flying certain ships in certain conditions), why not?
And FWIW, I don't handicap myself in the traditional "tie one hand behind my back" sort of way. I may fly a shieldless Cobra, but it's an engineered Cobra. Again, for me immersion is tied to realism, and things like weak lasers with a short dropoff or ships with ridiculously slow and arbitrary speed limits in space are not realistic. I do my best to compensate for these silly limitations using Engineering. It may be a shieldless Cobra, but it's a pretty darn good shieldless Cobra, and it has its own set of perks (like being extremely hard to hit, even in PvP). Same goes for my "paper thin" exploration ships - I get better range and handling and more slots for interesting modules like repair limpets. I also can take pride in landing that ship on a planet without relying on GodMode armor and shields to protect me.
But like I said, you do you.
By and large, people who don't stack the odds in their favor as heavily as possible prior to any sort of meaningfully risky endeavor are fools or madmen. I don't like being limited to playing such characters.
You don't need to be insulting, and also, I think you are being mighty cynical and just plain wrong.