Well, this thread is a month old and I had some time to mull over it(and replay it) so here's my second impressions:
Pilgrim's Path: this is basically just "lore p*rn" so it couldn't possibly be bad. Seeing all the different aspects of the LC was fantastic and overall made me like the faction more. If I had any complaints, it would be that Beholder Station seems lackluster compared to all the others - you just stand in front of a big window and that's it. I get that not every shrine should be "bombastic" but you don't even get a close-up of the planet(much less an actual picture) the same way you get with Jangala.
Knight Errant: pretty much more of the same. After how "nice" Cotton is to the player, Sedge was quite the surprise. It's like "oh right, Pathers are all genocidal terrorists, right". It's also good to see there are LC archcurates who don't quite like that.
ANewHope: nope, still don't like it, way too obvious. The fact that you always get it on Corvus(i.e. the game's official "starting location") is even worse. At least move it to a more remote desert planet.
Sentinel: cool - especially how you can turn it into an actual Hegemony colony in the middle of nowhere - but I believe this is a second quest in the game(after Princess of Persea) where you are "expected" to be commissioned by Hegemony. Also mechanics-wise, I wonder if I'll ever have a game in which the system is perfect for colonization but there'll be Sentinel in my way.
The Usurpers: I like the idea but honestly, it's a bit of a mess. There's just too much happening too quickly. You meet a guy at a bar, then immediately get invited by him(even if he beats you half to death?) for a top secret mission, and he drops a bunch of names with roles you've never heard of before. Then yet another guy appears and the old guy dies and you're sent to find a guy of a gal who is a thing in the thing and etc. This is definitely one of those missions where, if this were an isometric RPG, there would be a lengthy entry in the journal to remind the player just WTF is going on and who is who. Also to be honest the ending was kind of deflated - the missions create this idea of impending power struggle for Sindrian Diktat and then... it turns out Andrada has like 8 kids(or "heirs") and only one of them died so far, so nothing will change anytime soon. Which of course makes sense mechanically, but still...
On a side note, was "Finding Courseuse" changed? I think you were able to visit the potential contacts on Fikenhild in any order, now it's completely linear. Which is worse and seems off given the text(i.e. how you're "pondering your options" even though you only have one)