It would hardly be fair to review the game now properly, so consider this more of a "How the game is" on October 5th 2014.
Good things -
Art: Lovely art, gives off an easy for the eyes feeling with lots of visuals, artistic buildings and a theme that goes trough the game. Probably not for everyone, but definitely good enough for release here.
Exploration: Gives a lot of freedom in exploration, at least after you get the jetpack and learn how to use your captains correctly. The incentive to explore and send your captains out constantly is stronger than the incentive to log off and simply check daily, which is also a plus.
F2PLAY: Real free to play, no nonesense. I haven't seen anything which could remotely give an advantage over others in the game which is connected to cash, and from what I have heard the things which will be implemented for the cash will be purely cosmetic, my bet is on different building themes and such, which is 100% fine with me, hell, I'd even buy it.
Developers: They put in the Alpha the bug thing on the top, so that whenever I came across a bug it was the easiest thing in the world to report it. I also see they are working a lot with their community, which is definitely a big plus. That alone makes me move the game to my special steam folder.
Customization: You can build your town as you want, fix your captains as you please and even control your pet and missions. The game really hits the nail on the head here, without being overly agressive. More options would be fun, or at least the ability to get a really big island to build a whole town for others to explore. Though, that might already exist, the price is just too high for me to have been able to buy the island.
Will work on several devices: Definitely a big plus, since it means I can enjoy the same game on a pc or my cellphone.
Alpha and bugs: I have come across as expected several bugs, so if you are getting this don't expect a 100% smooth gameplay, it is far better than most beta's however in terms of stability, but a lot is either unbalanced or feels off.
Balance: To elaborate on that, the game really doesn't reward YET progress in a proper manner, your attacks and new captains deal what feels like absurdly low damage in the start, even at high level without using skills and before you upgrade your blacksmith you can't even send them out properly on quests due to lack of engineers. The new weapons come very slowly and several places the cost is absurd to the payoff. Especially on a captain quest, where you pay 700+ gold and get 250 xp and 55 gold or so, which is the same reward as using 20 wood ( value roughly 50g ). So this part is probably the most annoying part.
Multiplayer not fully developed: The game is online, and that part is great and all. But elements like trading, working together or teaming up are completely gone for now. I am not sure if they will be added, but at least the ability to maybe make quests in your own towns would bring this game a notch up on that aspect.
Combat: Oh god, likely the biggest flaw of the game. The exploration part is glorious, and the quests are interesting and fun. But the combat feels slow, skills meaningless and no ability to skip animations or otherwise speed up / automate / skip it. Which is a joke since you simply wait, press your ability, and then repeat an infinite amount of times. I even try to avoid non quest related monsters as much as possible, just to avoid another combat in its current state.
I consider the game fun, enjoyable and definitely something you can just waste a few hours on if you got spare time. I recommend it if you want to try something new, but only if you are able to be patient and deal with the fact the challenge curve is upside down in the start and the horrible combat.