It doesn't feel that good to me. Elise steering is beautiful and direct and communicative, and to me it's a bit woolly in AC. I also really question the lightening that occurs at or just over the limit of the front tyres. I'm pretty sure that this may technically exist in real life, particularly in the wet and probably also if you steered to full lock in a millisecond, but it's wayyyy OTT imo and just adds to the feeling of disconnect.
You do lose some feeling when you steer past the point of no return (from an understeer point of view) so that is probably close to correct but in terms of how accurate it is as an Elise, I have no idea, the only mid engined vehicle I've ever driven is a go-kart.
Shockingly, I agree with BF. I find it to feel pretty damn good. As someone mentioned earlier, quite similar to LFS in fact. After a few laps I'm hooked and can't wait for the final sim to release. I just wish the TP didn't have such an abysmal circuit in it.