Played a little last night, some initial impressions. I definitely get a Freelancer vibe (last game I played at all similar to this), with the visuals, radio chatter, waypoints, etc. Not as pretty as I remember Freelancer being although that was on a small monitor and long ago, and I probably have nostalgia goggles on. It generally looks very good, but despite the remastered textures as compared to the PC version some of the larger things (e.g. a space station in the second mission) are really low-res and pretty ugly. But you don't see a lot of that, so not a big negative in my mind. The space backdrop is nice and does the job. Effects like drive, coming into/going out of warp, etc are solid but not as spectacular as I would have hoped for.
The controls take some getting used to but I can already tell once I get used to them I'm gonna like them. You get the Strike Suit very early on (they changed it from the PC version due to complaints) and it controls very differently from the ship. The actual combat is very good, the HUD is gorgeous and all the things you expect (e.g. a target reticule that precedes the ship to account for their velocity and the time it will take your shot to make it there) are there and well-implemented. There are a lot of different things you are responsible for doing so the learning curve is steep. But I think there's a lot of depth here with regards to the controls and mastery of the Strike Suit in its two different modes. There are also other ships and weapon options that I haven't even touched yet, so I think there is some depth there as well.
Overall, I'd call it "solid to good" so far. I think based on what I have experienced so far and what I have read, the big let down vis a vie a Freelancer, for example, is the story is just not going to compare. The voice acting for your main wing(wo)man (through the first two missions) is solid, but there are some other voices that are really B or even C movie grade and are actually pretty painful. That really stands out after playing games like TLoU and even Infamous: SS where the voice acting was generally very good (okay, I:SS's Hank is pretty bad). It seems like all of that is just window-dressing for the combat. So if you're in it for a great space story, this probably isn't your bag.
All in all, for $19.99 regular and $15.99 PS+ price I am pleased. I think I am easily going to get my money's worth, and I really like the combat system they have here. Hopefully if they do well with this game (and at least we know they are still kicking after the PC version, enough to make console ports) that they can take this and build on it. The engine and the combat in particular seem like a really solid foundation to base a bigger more epic game on.