It is indeed simple, and it does seem to work well when given good data. The problem is that I can't predict what it'll do if given a single bad data point - will I be able to tell that it is bad, or will it silently give me an approximate position that I can't reliably distinguish from being correct?Did you see my code above - I really believe that's the simplest way to do it, just minimise the errors.
Data quality is a perennial problem with crowdsourcing.
The advantage of using algorithms which always give an exact solution is that it is then relatively easy to filter out the data points that don't make sense. I can even check the precision of the result by perturbing the inputs by their range of precision. These sorts of things are interesting to me, even if nobody else thinks so.
With that said, the fact that coordinates are available for all the populated systems suggests that maps would be more immediately useful than coordinate-colletion systems. Making good maps for ED is challenging in its own right, given the differing capabilities of the various ships.