Tried a couple of times with starsector shipped java 7 then with system installed oracle jre 8u202 - same results - game just quits without anything except small menu with fatal:null message. System is freshly installed and no problems with installed nvidia 415.27 drivers so far. Maybe this is my system specific only error - just wanted to post in case someone can stumble upon this too.
Game loads fine without legacy launcher after activation:
2 [main] INFO com.fs.starfarer.StarfarerLauncher - Java version: 1.7.0_79 (64-bit)
56 [main] INFO com.fs.starfarer.settings.StarfarerSettings - Loading settings
62 [main] INFO com.fs.starfarer.loading.LoadingUtils - Loading JSON from [ABSOLUTE_AND_CWD: null (data/config/settings.json)]
287 [main] INFO com.fs.starfarer.launcher.opengl.GLLauncher - Found display mode: 640x480, 59Hz, 24bpp
288 [main] INFO com.fs.starfarer.launcher.opengl.GLLauncher - Found display mode: 640x480, 75Hz, 24bpp
288 [main] INFO com.fs.starfarer.launcher.opengl.GLLauncher - Found display mode: 800x600, 75Hz, 24bpp
288 [main] INFO com.fs.starfarer.launcher.opengl.GLLauncher - Found display mode: 800x600, 72Hz, 24bpp
288 [main] INFO com.fs.starfarer.launcher.opengl.GLLauncher - Found display mode: 800x600, 56Hz, 24bpp
288 [main] INFO com.fs.starfarer.launcher.opengl.GLLauncher - Found display mode: 800x600, 60Hz, 24bpp
289 [main] INFO com.fs.starfarer.launcher.opengl.GLLauncher - Found display mode: 1024x768, 60Hz, 24bpp
289 [main] INFO com.fs.starfarer.launcher.opengl.GLLauncher - Found display mode: 1024x768, 75Hz, 24bpp
289 [main] INFO com.fs.starfarer.launcher.opengl.GLLauncher - Found display mode: 1024x768, 70Hz, 24bpp
289 [main] INFO com.fs.starfarer.launcher.opengl.GLLauncher - Found display mode: 1152x864, 75Hz, 24bpp
289 [main] INFO com.fs.starfarer.launcher.opengl.GLLauncher - Found display mode: 1280x1024, 60Hz, 24bpp
290 [main] INFO com.fs.starfarer.launcher.opengl.GLLauncher - Found display mode: 1280x800, 59Hz, 24bpp
290 [main] INFO com.fs.starfarer.launcher.opengl.GLLauncher - Found display mode: 1280x960, 60Hz, 24bpp
290 [main] INFO com.fs.starfarer.launcher.opengl.GLLauncher - Found display mode: 1280x1024, 75Hz, 24bpp
290 [main] INFO com.fs.starfarer.launcher.opengl.GLLauncher - Found display mode: 1280x720, 60Hz, 24bpp
290 [main] INFO com.fs.starfarer.launcher.opengl.GLLauncher - Found display mode: 1440x900, 59Hz, 24bpp
290 [main] INFO com.fs.starfarer.launcher.opengl.GLLauncher - Found display mode: 1680x1050, 59Hz, 24bpp
291 [main] INFO com.fs.starfarer.launcher.opengl.GLLauncher - Found display mode: 1920x1080, 99Hz, 24bpp
291 [main] INFO com.fs.starfarer.launcher.opengl.GLLauncher - Found display mode: 1920x1080, 119Hz, 24bpp
291 [main] INFO com.fs.starfarer.launcher.opengl.GLLauncher - Found display mode: 1920x1080, 84Hz, 24bpp
291 [main] INFO com.fs.starfarer.launcher.opengl.GLLauncher - Found display mode: 1920x1080, 144Hz, 24bpp
291 [main] INFO com.fs.starfarer.launcher.opengl.GLLauncher - Found display mode: 1920x1080, 60Hz, 24bpp
292 [main] INFO com.fs.starfarer.launcher.opengl.GLLauncher - Assuming native monitor resolution is 1920x1080
378 [Thread-3] INFO com.fs.graphics.OO0O - Using refresh rate:60
etc