They state it there, they want to focus on na single codebase.
The real reason is basically, money. Down To Earth Astronomy did a video on this a few weeks back, as well as ObsidianAnt. I'll try and be as brief as I can:
- PC/Console player-base split is estimated to be 80/20.
- Console players playing on last-gen vs current-gen (so PS4 vs PS5) is also around about 80/20 at present (based off of data collected from other titles).
- That means the amount of people playing Elite on current-gen (PS5/XSX) is around 4% of the entire player-base.
I personally have poured over 1000 hours into Elite on the PS4, maximising everything I can (highest ranks, max materials, all ships engineered to Grade 5 specs, etc), and even though I've been completely fed up with it recently, I was really looking forward to jumping back in when I get a next-gen console in the future, and playing Odyssey. This isn't surprising news to anyone who's been closely following the game over the last year, but it's still a horrible punch in the gut.
My hope right now is that they find a way for ALL console players to switch to a PC account, and allowing them to retain EVERYTHING. You've always been able to contact Frontier about switching platforms, but you only get your credits and the monetary value of your ships - no ranks, no materials, no paintjobs, no decals, etc etc. So yes, this needs to be addressed first and foremost because people have poured so much time into this game.
One wish I have is that they reassess this situation at some point in the future, maybe in a few years time, as I'm someone who neither wants, nor can afford a gaming PC that can run this game at an acceptable level.