True, its a tech not needed much at high end levels. I too stop researching it quite early.
However, if you do end up putting even just a few life support modules on any military ship, its still worth researching, for the mass reduction techs. But yes, it would be nice to see the ratios increase a bit, from tech to tech. It would be interesting to see a game where initial life support systems have a very poor ratio (say 1:7-8), and only achieve the 1:5 mass:range ratios by age of war. It would certainly slow the game down a bit.
EDIT - whoops, I unlocked all techs to look a the tech tree
yes, the current ratios are MUCH worse when looking at an unlocked tech tree, but nevertheless, a larger disparity between tech drive types would be nice, rather than the range boost or mass reduction techs making the only efficiency improvement differences, once past early environmental life support. In a way, its just a flavor issue. If you want improvement down that line, you need to research it. I suppose you are only screwed if for some reason you feel it necessary to always pick cost reduction techs, instead of the range boost or mass reduction techs (something which the AI may do, 1/3 of the time???).