As the topic says. Before I start, I *know* this is alpha and a lot of features are missing, and I know it's a sandbox game, so perhaps by the time it's released none of this will be a concern. However, I've seen enough games with promising concepts and incredible amounts of passion put into them fail miserably when I kept my peace, so it doesn't hurt anybody just to say what could probably improve the game the most while the developer still has time to implement it.
As it stands, the point of the game is basically just to grind. You start out, and you fight small pirate "fleets". Then you fight bigger ones. You buy some ships, maybe capture some along the way. Then you fight bigger pirate fleets. Then you buy more ships. Then bigger pirate fleets. On and on for eternity. It loses its novelty quickly and in the end, is rather shallow and pointless. Players will see through this and grow tired of it pretty fast.
Of course, 'bounty hunting' is not the only thing you can do. Trading of course, and smuggling. You can disrupt markets and even make enemies with a major faction (no idea why you'd want to though, there's no real benefit).
But the biggest issue with the game, as it stands, is that the player's actions have no real, long-term effect on the world. Everything you do can really only affects yourself. You can kill 100 massive pirate armadas and all that will happen is that 100 more pirate armadas will spawn to take their place. And of course, as I said, I know it's alpha, but I do hope that this isn't the final plan for the game.
Specifically, in addition to the procedurally generated maps for each new game, I'd like to see the different major factions have alliances and rivalries. But more than that, I'd like to see them actually be able to kill each other and take over each other's planets and solar systems. In fact, it would be really neat if the "armadas" that each faction spawned were based purely on their income from planets owned, market stability, and economic prosperity, so that killing said faction armadas, or attacking their planets, would have a massive impact on the universe. The player could choose to ally with a major faction completely, then work with them to wipe out another faction, or even pit them against each other in a form of deceptive subterfuge.
In other words, the groundwork is already in place to make this game great. The "battle portion" is already fantastic, but now you have to give the player a point past grinding a bigger and bigger fleet based on pointless and endless battles. Give them a "win condition" outside of the battle screen. Make their actions really count. Something like Drox Operative or The Last Federation. Then the game's replay value would be near infinite.