That's not entirely true, if they ever went full release there's still a fuck ton they can charge players for and milk. It's just their Kickstarter that won't make money anymore.

That being said you're correct, they've essentially pioneered the concept of "Game Development as a Service" in the same way live service and early access games are doing now regularly.

Personally even if SQ42 launches I don't think they'll get the persistent universe up to their original vision for another ten years. They absolutely aren't going to hit their 100 solar system metric from the 2011/12 era. I'd be surprised if there ends up being more than ten at launch, but it would surprise me even more if the game ever has an official launch at all.

What's most likely is that this game will remain in early access Alpha forever, allowing it to shield itself from criticism while taking it's sweet time constructing the game they said would release back in 2016 originally. That will allow them to justify keeping the Kickstarter open forever while also spending most of their time creating and selling new ships in a game that doesn't even have gameplay loops for most of them. Then they'll occasionally drop a new star system or loop to keep the hopes of players up.

This new dynamic server meshing technology they just showcased (at the tech demo level of complexity) is their only hope for making the game playable. The performance of the game isn't due to stress on your rig as much as networking latency because their servers are overloaded. If they can scale it to the planetary, and eventually multi system level, then they might have something worth picking up. I'm not going to pay for it until that game exists, though. Which it probably never will.