Played a bit of version 1.06 and everything technically works. I'm not having any fun. At some point you gotta stop apologizing for the game and ask if the fundamental core mechanic is any fun. 
And this is coming from a guy who just beat Disciples 3 and didn't completely hate it. I have patience for buggy turn based games yet still.

At the moment it's missing a lot of key features but stardock are going to work on it for the next year or so. Why not wait awhile and see how things pan out?

In a perfect world, Stardock would have released this game around early October... but I doubt they wanted to go too close to Civilization 5.  It does remind me of Gal Civ 2 before the Dark Avatar expansion where it's fun but in retrospect it's missing something. There is something to be said about how cool it is to make you're own avatar instead of choosing pre-designed ones.
I need more time with it though, but it does still lack polish.  I'm sure it'll be fixed in a couple months.  Stardock has always been really good with updates.

No, it's not broken now after the two patches and the hot fix.  The AI might not act correct but you can still enjoy the game.

I hear that game is broke.  Not buggy, but flat.  out.  broke.

Even though there are a thousand screaming internet voices about it, I'll probably end up getting Elemental: War of Magic.  I loved Space Empires IV and Dominions III and Civilization II.  If you can give me some sort of combination of the three...