So I bought the game when it was first released, was very dissapointed with all the false-advertising and broken promises the game just did not deliver, I just wanted to know how the game is doing now a few months after release.
Would it be worth coming back to? or is this a lost cause?

The game is alot more stable and performing better than at release, so that's a plus.
They've added the pvp system with murder points and pvp xp.
They've made levelling from 50-70 easier by adding more quests in e-mountains and a new zone called ymir's pass.
However there is still no solo content at level 80 (unless you count crafting and resource gathering).
They've added droppable recipies, however epic gear is better and most large guilds have the raid instances on farm by now.
The combat system is great however it's very hard to find balanced pvp, "minigames" are dominated by guild groups, in khesh you either get ganked by raids or have a hard time finding anyone that isn't levelling.

To sum it up, it's better than it was but the game's frustration factor is way higher than the fun factor.
It is also quite obviously still bleeding subscribers.

What level are you OP?
It all depends on that.