Personally I'm not sure yet. I've just returned to it after about a 2 year hiatus due to poor health, and am only 2 days into that return.
The new Prototyping Research seems better than the old system, if a little confusing at first.
I haven't seen the new Gamma personal stations and teraforming stuff yet.
So far there are two main things that disappoint me. First, that there seems to be a big lack of newer players. And second, in the past two years there have been no official in game events.
Having worked in the gaming industry in the past, I know how important events and holiday themed games can be to any MMO, sandbox or otherwise. It's not about the game when it comes to these types of things, it's about the players, and a company's appreciation to those players. They are normally silly and unimportant, but they are supposed to be.
Give Aways, competitions, holiday treats, Hosted PvP tournaments - all of these can help with the lifespan of a game. One of the biggest driving forces behind Eve Online's growth was the annual PvP tournaments. Not only hosted, but also podcasted with real player guests at the company offices. It's something called a "cool factor." When a game company does something a bit out of the ordinary that any gamer, even a diehard troll, will admit to that action being, well, cool. When your only "event" is some sales on a product, that's just not cool. It seems more about a company asking for money from gamers, albeit in a smaller amount per purchase sort of thing.
Both of these I think are a part of the same problem, that hundreds of other games have had as well. That being player retention. So again I'll restate, I'm not sure yet.