I'm probably remembering wrong (10+ yrs ago), but I thought that (as a student) in the event of total loss of thrust, you either had to make high-key at home base (CBM) or punch. If it was a PEL, you could do that at any field long enough.
I agree with you fully, and think we're doing a disservice to the studs by not making ELPs a requirement. Just saying it's an apples/oranges comparison for an engine-out scenario vs a gear issue with plenty of time to talk through it with tower/wingman/SOF/etc.