It's been playable in some way shape or form for many years, I started playing it in April of 2020, it's currently on Patch 3.17.4, where 3.0 is when they added the first 1/8 scale planet. There's now 4 planets (two earth likes, a city planet, and gas giant) each with a fledged out City with a combined 12 moons that are all completely explorable and have some points of interests like caves, trading outposts, mineable resources, and shipwrecks, dozens of space stations and asteroid fields. Mission and reputation system. A prison for criminal players to spend some lock up time in when caught, and a bunch more.

Here's a marketing video they put out last year, it makes the world seem a bit more loved in than it currently is as it uses alot of older marketing vids, but it's all engine and the kind of stuff you can do. https://youtu.be/m-Rz5PTMuaw

Here's a more balanced video from one of the community's content creators that cuts the bullshit https://youtu.be/Or_w4wEi-I8

I easily put 8 plus hours a week into playing it though, either just enjoying it as an immersive space sim or with my group doing Piracy trying to rob other players. Still a ton to do, and the Developer is the most transparent I've ever seen, not only sharing a roadmap of future features but also a progress tracker that shows what individual teams in their now 700+ employee studio are actively working on and will be working on down the line