I find any time you can walk around in an open world game, it ends up becoming an MMORPG. Elite very much does not feel like an MMO. You really only encounter other players around major trading hubs and combat zones inside the bubble, and even then not many due to the way they shard the instancing. Space is empty and unforgiving.
It's already incredible with the HTC Vive, and you definitely get used to how it looks, but the resolution just isn't quite there (e.g. its especially noticeable if you are trying to railgun someone from a significant distance)
It is a great game for some people. If you want to try the first generations of VR, I think this game is the reference for that.
They didn't have the marketing of Star Citizen, but were better in everything else they did.