I'll be honest here, I simply hate people, game companies or any fucking living being that calls normal ONLINE games an "MMO". I hate them with a passion. And this is just the case here - the game is supposed to be an MMO, hell it even says so on their front page... but the second you log in you notice it's just a normal "room" based online multiplayer game.
Yes that's right, it has a "lobby" where you set your ship up, equip it and then join an instanced match of specific gamemode (ala team death match, etc). And that's pretty much all there is.
The gameplay is very very similar to Black Prophecy. The graphics are quite nice tho, have to give them that.
As for the rest, heh can't fool me with the "MMO" tag. It's not an MMO.