Yep, you're right about a central subject. There is only a little bit of the basket seen in the lower bottom of the frame. I leaned out over the edge of the basket about as far as I could get without lossing my balance to try to get the sense of where I was. It was my first hot air balloon ride.
Not for vertigo sufferers!
It certainly gives a strong impression of the great height. The smoke/clouds help the composition and give some framing.
It would probably be enhanced if there was a stonger central subject.
Mike.