If you go back to the Kickstarter promise timeline, Elite was released very late, and should have only had a 1 month Alpha and 1 month Beta phases. Frontier also used the Kickstarter money to leverage venture capital interest.
If you cast your mind back to just before, and just after launch, a lot of people were saying that Elite was 'unfinished' them. More had bought into the 'vertical slice' or 'these things are placeholder' arguments. And I do think a lot of people were surprised at what got released. Even though it was obvious nothing much would change from Gamma to 1.0.
As to whether RSI will have the cash to ever actually finish their magnum opus, well, that remains to be seen doesn't it? It is surprising that people are still throwing that much cash at the project. In the meantime, I'll be happy playing 'incomplete' Elite.
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You obviously follow SC far more closely than I. It was an outside impression looking in, that they seem to have more to show these days that actually feels like there is a tangible game somewhere, rather than just (all) flashy art and videos. <Shrug>
Bottom line for me is that both games have, and will disappoint in some aspects, both have the potential to amaze in others. It's also madness to want either to fail. Nor do I believe that either Roberts, or Braben, are scamming people - they do both seem passionate about what they do, even if delivery is a bit problematic.