Isn't it give you galactic wonder that spawn a class 10 planet near your location? Although you need Elerium for it so yeah, you can't build it at lease minimum 10 turn once you start mining Elerium since you get 0.1 per turn.

It does seem like there is something missing...

A lot of things been missing. I wouldn't be surprise by now.

I sort of see the issue but it's unless you are going for it to try to pop the wonder early (and have the resources necessary that early) then you're kind of taking a chance.  Otherwise, for me it's always a very fast tech to research so there's not much to lose if some AI is already building it.  Either way, it's a tech that you know about and understand to be a risk, so if you're not into taking a risk, don't bother with it.  Sounds like you basically either want the wonder available to only you or you don't want to ever have any kind of "lose" scenario.

You could have a trait where you start with resources (no clue if that can get you Elerium that way) or a constructor (and with luck you might be near Elerium).

I've seen an AI build this wonder incredibly early (only see this particular wonder super early once but I've restarted so many times that I've seen several other early wonders, so on the plus side, the AIs do go for early wonders).

It never spawned a minor for me. It once a radioactive world, but it always belonged to my civ.