I would disagree that it is functionally an EOT. While looking like one, there are are no engineers who manipulate the actual engines, thus it grants direct control over the engine, despite being made to look like a traditional EOT. Additionally, turning in Guns is done by differential thrust, without reference to the throttle/EOT we're discussing, meaning that the capstan is also a throttle, of sorts. There are no engineer intermediaries for engine settings, thus it is a throttle as it directly controls the engine output and direction of turn, via fuel/air mixture to the engines and drive shaft gears, presumably.
And it's only four clicks to idle if you always fly full forward or full aft throttle. Again, mapping out the throttle positions to specific buttons/commands would be very helpful in making the game friendly with gaming devices.