Ships in gravwells aren't really manipulating subspace, but instead just using conventional chemical or ion drives, so some sort of subspace inhibitor seems silly from how I understand it.
Sorry, I think you have that backwards. Ships moving in a gravity well ARE manipulating "subspace"; in Star Trek, the subspace drives were the sub-FTL movement drives for in-system travel, and presumably this game is using similar concepts.
The two reasons they can't be "conventional" drives:
> SPEED. Under Newtonian movement, there's no such thing as a "top speed", until you get up to relativistic speeds; also, ships can't turn on a dime like we see them do.
> SCALE. No matter how you cut it, 1g of acceleration isn't going to get you anywhere very quickly, especially if you want to be at rest at the end (say, if you're coming in to bomb the planet).
So basically, "subspace" refers to the way to move faster in normal space, while "phase space" is this game's hyperspace FTL method, also used for some weapons. A Subspace Inhibitor, then, makes perfect sense as a device that slows down ships' normal movement.
As to why they'd leave it out of the game, I think it'd have some huge balance headaches. Against the kind of players who charge in and blast away (or the AI), it'd do nothing, against people who like to make their enemies chase carriers it'd be crippling to one side...