I backed it during its failed kickstarter, and it's definitely not similar aside from the fact that they both kind of involve space. But it does look interesting. Right now I'm kind of taking a wait and see approach, because it seems fairly content-light and I'm not sure about how the developers will do with it.
They seem to be on solid footing so far in terms of being good folks and handling updates in a positive timeframe. They also came up with some clever technical solutions to things like switching from space to a planet without a loading screen. But I'm not really sure what it will evolve into, or how much it will evolve, so I'm kind of waiting. If they manage to make this kind of a procgen survival game in space with interesting monsters and base building, then that will be great. So far it's a bit early, though.