Yes and no. They have been adding content and releasing free updates since release, I think the most recent one was this past march. I'm about a 100+ hours in and found out today that I'm missing half or more of the content because I was happy enough just exploring and figuring things out all that time that I didn't do any of the story.
that being said. There is definitely a feeling of repetitiveness across everything.
Makes you appreciate the fact that we have a staggering amount of different forms of life and biomes just here on earth...
If it's been years since you played it, you should give it a try. There have been a lot of bug/crash fixes, new mechanics, even redoing some core game systems (I think they recently made some big changes to planet generation).
I always wondered how’s the procedural generation part of the game? Does it get repetitive fast?