The past fifteen years have seen a lot of tales told, and the possibilities increase by the year. I've played dramatic military stories, humorous shenanigans, popcorn flicks, and psychological horror (yes, in a space sim). But I've also flown with optimistic dimension-hoppers, snarky duct-tape freaks, pilots on the run, backwater aces, countless heroes, black ops, mercs, incomprehensible aliens, and a bunch of different anime characters.
Freelancer doesn't have the tools to tell much of a new story, let alone multiple masterpiece-level campaigns.
What FreeSpace excels at that Freelancer can't even touch is in the singleplayer. Unlike the FreeSpace mod community, the Freelancer community is multiplayer-centric, and you'd be a fool to imply that multiplayer is the final word in good gaming. Good for you, but you might as well be comparing apples to oranges.