It is not lacking in pheriferal views if you are using the right equipment.TrackIR multi monitors etc.
Also very helpful the use of rc models and FPV Flight.
Sorry to disagree but even with Track IR it is lacking in pheriferal )hope thats spelt right
views.
If you look straight ahead and move your hand into view fom the side you should see movement from your hand at about 90 degrees right and left of straight ahead.
Tilting your head right or left changes that view range dramatically.
I have not been involved with or used MSFS for some years.
Track IR was in use then so unless there has been a huge improvement I cannot agree with your comment.
Multi monitors as are complete home cockpits are in the realms of the hard core simmers and not joe Bloggs with his one flat screen single monitor.
Pace