I have never seen that feature before, but I must say that I am impressed of the visual impcact.
I actually think it would be a GREAT tool for those who want more immersion, if it could be locked at a custom value. Halfway between maximum zoom and current standard setting creates a much better impression of size and scale. I just zipped around a bit in my frigate and I felt really small and tiny. Maybe it would be neat, if that was actually linked to the ship size you are flying. Optionally, if it has to be.