I dont think its unreasonable to say its not better than Elite at the moment, but where SC is heading, its not even in the same ballpark.
Theres just enough in SC at the moment to get a feel for what its capable of, being able to transition between on foot in space stations, space, and EVA in any order, and soon being able to fly down to planets will join that list, at the level of detail its all being done at etc.
But its not a 'game' yet, its parts of one, so theres no progression beyond earning temporary currency and criminal levels. Theres small missions, enough to give a really basic idea what a decent mission would be like (watch the Gamescom demonstration for a better idea for the future), but its not like you'll gain access to new missions, theres no ability to buy new ships or ship items (clothing, fps guns are there). So its still closer to a tech demo IMO, but i also think its an extremely impressive and capable example of a tech demo.
I dont think you'd be disappointed long term, but you might find it a little light on stuff to do if you're looking for a new game to play right away.
You dont need to buy anything to use the referral, just sign up for an account with one and it'll be remembered. They do free-fly weeks from time to time too, so anyone who's registered can give it a go with a few ships accessible and see first hand.
https://robertsspaceindustries.com/account/referral-program?code=STAR-G7WP-29QV
As for if its a fair deal, not really anything to barter about, both parties gain from it and so far this has been the only referral promotion type thing they've done and cant see them doing it differently in the future either. Im waiting on a 5th which unlocks a little buggy and fishtank

Hoping to hit 10 one day, but 5 is the first nice item IMO.
Full referral details are here -
https://robertsspaceindustries.com/referral-program