I think the first game with ultra colortastic space was maybe Wing Commander Prophecy? Once 3D hardware made the effects possible, space games immediately went psychedelic. Blame cheesy old Babylon 5 too.
We don't see too many armadas shooting each other up in space either, and even so that also exists in this video game, yet I don't see you making any fuss over it...
But we want to have our space fantasy as realistic as possible! Both fleets should get up to ~.1c and head at each other so it doesn't take 6 months to engage, then exchange fire in .1ms using automatic targeting systems faster than any human could react to. Then they turn around and head at each other again which would take at least a few hours with the best possible propulsion systems physics can allow. Whoever has the most stuff left over wins!
Interview with Paul Ruskay couple of years ago on RPS if anyone is interested. I think he's involved for Shipbreakers as well - dem soundscapes and sensor sound
I suppose there is only so much you can do with a new set of clothing (e.g. textures) as the models appear to be exactly alike (if we disregard the pretty explosions and backdrops).
It's all home world 2 engine which have HW 1 enthusiasts a little peeved. The game and formation mechanics are slightly different from what I understand from reading but I only ever played HW1 and not Hw2 so I'm not sure what is different