Yes, travel from one place to another isn't instantaneous, and they "hide" the loading while you travel. But the game's not supposed to be a fast paced space shooter (check out Everspace for that!), and I don't think they'd take out the travel times even if they could. Trips between moons are maybe 10 seconds, and trips between planets will be longer. But it's very pretty, and the visual effects make it feel fast. Canonically I believe quantum drive around a system is moving about 0.2c.

If you don't want a "quantum drive" scene going from one place to another, you're also free to make a seamless flight using regular engines! Port Olisar to Daymar takes a bit under 10 hours.

https://www.youtube.com/watch?v=C_iXlgxsEVc (timelapse of that trip condensed to 15 minutes)

And if you're in something bigger than a single seat fighter, you can get up and do other stuff around your ship while it's traveling, but it's not a good idea in areas with pirates. Still, more options than a Mass Effect elevator.

Flying around a planet/moon all the way down to the surface, getting out of your ship and walking around, and going inside the various outposts happens completely seamlessly. I've only fired it up a couple times since beta 3.1 came out, but my first trip down to Yela was pretty mindblowing.