How similar is it to something like FTL? I love that game to death.
Somewhat similar, but not completely.
Controls - The ship is actually controlled directly via WASD or arrow keys. I like this more than just clicking on waypoints, tbqh.
Map - There are static portions and also randomly generated. The world map is visually detailed. Landmarks block movement, as you would expect.
Flavor text - Lots of it, from landing at a town to incidental text when just sailing. Similar to quest/encounter text in FTL.
Gameplay - Combat is somewhat similar, without as much tactical depth. There is a definite "survival" aspect, managing resource, food, crew. Gameplay is more focused on exploration and quests, from getting as much gold as possible to solving the mystery of your father's death. There are trade routes as well, for a Privateer/Elite kind of vibe.
Some of the hand drawn portraits for characters I don't love. Some of them I do, as well as the map. Very nice looking. Sounds nice also.
It has a lot of potential. I look forward to playing more and seeing if they can deliver a lot of content.