Really fun. Great graphics (especially with the mods, which are worth looking into) and sound. Singleplayer and Multiplayer (basically the Singleplayer world but with other players on servers).
No real loading screens except for like, 20 seconds when you first start playing. The game install itself is less than 200 MBs or so but if you don't like even the starting loading screen, setting the 'Procedural' generation to 'Pre-Generated' adds 2+ GBs and makes it so it doesn't have to reload everything every time. Very useful.
You can go from space right into planets and land on a major trade city or maybe walk around the surface in a terrain walker mech (but don't go too fast in atmo unless you want to burn up), manage your fuel levels, take some contracts or follow the storyline (not necessary unless you want to follow it) or be even more enterprising and find a way to maximize profit by buying low, selling high, mining hydrogen or water or metals and turning that into something which you might turn into a warp drive that you can sell for much more.
Hire crewmembers to make your ship perform better (but keep paying so that they don't jump ship next time you dock).
The combat has a learning curve (the game has proper Newtonian physics but also a setting that uses your engines to try to keep your ship still for the most part when you throttle down) but once you get into it, it's very exciting and strategic.
The universe is massive and you can pretty much fly in any direction and you'll find unmapped sectors with planets. Or you might have a run-in with pirates or the mysterious Vonari alien race. The playerbase is still finding new things in the universe regularly.
The game really understands space travel. Not everything is on the same x-axis or y-axis and you might warp somewhere to find out that the station is actually above you a ways. Little touches like that add to the whole feel of actually being in space.
You wanna build a station for repairing your ship or constructing things and hide it out in the unmapped sectors of space? Go do that.
I'd suggest the game to people that enjoy open sandbox games, space as a setting, sci-fi, and games like Elite. The game doesn't care if you're a miner, a racer (yeah, there are space races, which are very interesting with the newtonian physics), a fighter pilot, a bandit that uses a cargo scanner to pick targets and blast 'em, a trader that's playing the markets, or maybe you just want to shuttle people from one station to another. It's all up to you and this game really excels at that.