When you heard of Elite for the first time it was much further along than Star Citizen, and is releasing soon as basically Space Engine + Euro Truck Sim + shoot some things, and more features will be added on later. Star Citizen is releasing *years* from now, but is attempting to have a lot of features at release because they are simply part of how the game is going to work/integral to the story mode. As part of the development process, we get these things piecemeal, whether as playable modules or in preview videos, and honestly, what they showed today looked great.
You can prefer Elite's release model instead, and sure that's great, but Star Citizen isn't developing the *wrong way* for what they're aiming for, just because you don't like it.