Yeah, currently in EU/NA Alpha. A bunch of my guildies are in the alpha. That wiki doesn't mention player made factions, building castles and land claiming in the north though, which is a huge part of what endgame is about!
Here's some info about EU/NA Archeage:
1) Trion said they'll eliminate/change the bad changes of 1.0 patch (
http://i.imgur.com/Q8DxwbI.png)
2) Game is Free2Play, cash shop will be cosmetic items, owning land will require a premium subscription (at least at launch)
3) Labour Points (points used to do crafting, farming, gathering, ...) will regenerate at the same rate for F2P and premium players
4) Premium subscription will also be purchasable for in-game gold (ala EVE online)
5) Launch is coming in 2014
More info in their FAQ here:
https://www.archeagegame.com/en/news/2014/04/frequently-asked-questions-archeage/As for the Kraken, it's a raid boss that randomly spawns in the open sea to tentacle rape you in the butt.