So what exactly happens if/when you lose your Homeworld?

[SG7]

So basically the only purpose of taking (and holding) another player's homeworld is to remove that player's ability to "win" the game?

Even this is questionable. If the player can continue by having other productive colonies he still can fulfill win conditions.

[Nateo]

My assumption was that then the only meaning to "eliminated" was that, no matter what you do even if you fulfill win conditions, if you have lost your homeworld, you won't actually be considered for the "win". (But again, I obviously don't know this to be fact either....)