I dont really MP in Elite. So,
-CG are cool, but feel too arbitrary and forced to me. These things should be a dynamic consequence of the BGS.
-Wings was useless to me, as I've only ever used it once for a few minutes. Came with some nice ships (FDL) tho.
-Powerplay was a good idea implemented poorly. System changes should be based off an improved mission system culminating in a a dynamic CG. I've never participated in the current grind iteration.
-CQC had the potential to be my favorite but with long load times and low rewards for participating, I've not played it since the CQC beta. It needs quicker match making and even AI opponents.
-Ships was... well somewhat lacking in a headline feature. All updates came with ships, and the ships added in ships were more variants than new ships. Bit of a non-starter IMHO.
So... upon reflection, Season 1 was pretty poor as headline features go. Season 2 is looking like a large improvement in this area, so long as FD keep in mind that grind is not gameplay.