For one thing, the last 'major' update was actually in September, so over a year ago (the two since then were smaller fixes). However, there are merits to both sides.
I do agree it is extremely frustrating. The major updates are so spread out, it could indeed be described as ridiculous and inexcusable if it were on a platform like Early Access. Furthermore, there are very few blog updates too, 8 since the last minor (January) update in 10 months including 2 part art update (so 6 'core' blog entries on mechanics). I think maybe part of alleviating people's frustration with the slow release cycle would be more frequent updates letting people know whats going on - perhaps monthly updates on mechanics like those done, with weekly updates on the other 3 weeks just on progress, what you've been doing etc. Nothing too long or time consuming but something just to let people know what is going on.
My hope, and I guess suggestion/recommendation from my own naïve position would be that all the core major mechanics - for example the trading etc that we are seeing in this update, and the other things that really require big systems working together to actually work at all, be added as soon as possible before worrying about balance and adding smaller features.
Once these major things are in, smaller additions can be integrated and balance work can be done with a much faster update cycle. Really this game is in alpha development, but it isn't treated like it at all, its treated like a full game with major updates. I don't think updates need to be bug quashed, balanced etc like they are, but rather should be frequent to allow feedback on how the game feels, followed by bug squashing when all mechanics are in and not going to introduce new bugs, and finally balanced.
I think another thing is the issue of mods. Personally I feel that during an early alpha period, mods should take a back seat. To me they mostly seem to be there because people are bored waiting for new updates. And keeping the update process slow for the sake of mods seems counter-intuitive and not something I personally support - but I'm just one voice.