It has levels?
hahaha. I swear on it.
I think the key problem with the game was that it was on the Turbografx. Obviously I don't mean that as a swipe against the Turbob, but the developers just had to sacrifice too much. Computers of the day were capable of much more, and it showed. The Falcon series was released on several platforms, including MSX, Macintosh, IBM PC, Amiga, Atari ST, etc, and was highly praised in reviews. The TG port just couldn't offer a decent simulator experience.
Consider that this is Falcon 3.0 for the PC. It was released in 1991 - not long before the TG port - and was received very well:
This is the 1984 MSX-2/SMS port:
And here's the TG port just for comparison's sake:
Falcon on the TG was a failed attempt at bringing a very good flight simulator to a console. Flight simulators need keyboard controls and a proper joystick. Not only that, but like the reviewer says, it was probably rushed out to the market.