They released a new video of the single player part of the game:
Seems they're actually making a game, but a lot of this looked pretty rough. I know it's "pre alpha", but they've been on pre alpha for like 2years so I wouldn't really consider it pre alpha. The game does look great but the FPS was shit for the entire video even though they probably ran it on a super computer, the LoD is still super noticeable when flying on planets and the blur/focus shit is horrible when on foot. Gunplay looked alright but not amazing, AI looked like shit, UI looked like hot garbage with the whole having to click on stuff like "pick up" to pick up things and then click on "drop" to drop them, flight combat looked pretty bad also. Character facial animations are crazy good and the thing in general looks crazy good other than the few graphical glitches and some weird animations.