Yes, interesting indeed...
For an experienced player seeking a challenge at all levels of play, is there a higher difficulty setting than Elite? Nope, so the experienced player seeking a challenge only has Elite - again, the highest difficulty setting - to choose from.
Now, for you to have fun - as a returning player on a first life character: are you seeking a challenge? Is there any reason why your fun is tied to/restricted to the highest difficulty setting available? Why can you not have any fun on a lower, less difficult setting like Hard or maybe even Normal?