People love loot, right? I mean, play the game, get rewards. That's a fun game play loop. Works all the time.
Why, then, is it NOT fun and engaging in Elite? I mean, Skyrim players LOVED obtaining material for crafting their "modules." So...why do Elite players NOT enjoy it nearly as much?
You lost me with the Skyrim example. The loot and progression system in Skyrim and the Fallout games is tedious, grindy and boring. Endlessly grinding out honed daggers to improve at blacksmithing, yeah that was fun. I'm not saying it's any better in ED, but Skyrim is a poor example.
I liked Skyrim and Fallout 3/4 for their interesting and often beautiful worlds, and the joy of exploring them, but these games are full of gameplay flaws.
For a starter, choices/actions rarely effect any significant change on the world (though the like to pretend they do), a complaint you seemed to be making about ED.
Furthermore, these games are far too easy. Although they start of hard, by the mid-game you're practically an invincible demi-god. This is because you don't really have to make difficult character/roleplay decisions, the game effectively lets you max out every skill path. And in that sense, they're not really RPGs (compare the difference between Interplay's Fallout 1/2 and Bethesda's Fallout 3/4).
The gameplay is exceedingly repetitive. Like ED, most of the missions/quests boil down to doing the same thing and use boring cookie-cutter story lines. It follows the classic pattern of clear dungeon, gain xp and loot, upgrade character/equipment, then clear slightly harder dungeon, gain xp and loot, upgrade character/equipment, and so and so forth, ad nauseum... And after a while, the dungeons, castles and caves all look the same.
Inventory management is extremely tedious. There's no economy to speak off. And most of the characters are one-dimensional bores. Not to mention how poor the swordplay/gunplay in these games is.
The main difference between Skyrim/Fallout and ED, is that Skyrim/Fallout has an endgame - a central mission. So it feels like you're working towards something.
However, where Skyrim/Fallout really excel is in the community mods. Especially the mods that can completely change the game systems, add greater depth or realism, or allow you to tailor the gameplay and the roleplaying elements to your tastes.