i feel there is a lot they could still do with this mode. I think you should almost live your created players life. there's practices/drills already that you can do but i think you should get rid of that and instead go to your team's practice any day during the week that they might have it and it might focus on something specific (shooting, defense, handling, etc). Also if you have morning shoot around before a game you can go to that. All practices have the option to sim.
A lot of people have mentioned this but should add something like my crib or something similar to that in the old 2k games. Starting out small with a decent apartment then as you work your way up and start to earn a lot of money, you can buy a bigger, nicer house with full customizations.
Spicing up the interviews after games. Don't answer a question after EVERY game. if people are looking to talk to you about something whether its trade rumors, standout game, player of the week, all star voting, etc. then you answer a question or maybe even two. Also if you're in lets say the rumor mill, after a game they could show a reporter talking to one of your teammates and can hear what they might have to say about you. Also maybe they could add a setting where you can come up with your own answers to interview questions and just record your answer with your headset.