Hello, and welcome to the community!
The (major) updates aren't exactly frequent, but they are extremely well done. They usually bring some massive rework or completely new system to the game, are usually bug free (and if they do have bugs, they are all patched out a few days after discovery). The launcher will not automatically download updates (I think). To install the update, simply just download the launcher and re-install the game. Alex (the dev) has stated that he doesn't feel comfortable releasing the game on steam until he feels that it's ready (near or at the final version). So it is on the radar as something he wants to do, just not until he feels that the game is ready.