This game looks good and the level of detail in an beta test in very nice. It says it will also have a large open world persistent universe which could also be very cool. it will not be free to play though it will be a one time purchase to play, I haven't heard if there might be some micro transactions in the PU but I am hoping they do not have them.
Ya it won't be for everyone as the combat is slower paced but for anyone that is a fan of age of sail ships and combat it looks really good.
I got the game this weekend and it hasn't failed to disappoint I have had so much fun already with it.