Biggest thing for me that you mentioned is the cultural/talents not working. It was surprising (in a bad way) to realize I bought the Noble Long Bow and not be able to use from horseback even with the talent. Then to realize none of the cultural bonuses were working was also mind blowing (once again in a bad way). Enough is not working that I won't be starting another campaign unless a big content patch comes out, or I'll play again in a couple months. I'll still play my current game though.
I think the core gameplay loop is there, but it's a lot of the surrounding features that need balancing/fixing/implementation. Like Hideouts, an iconic quest from WB, are really over-tuned. Randomly generated companions mean that entire skill sets won't be able to be recruited into your party if you're not lucky, or you can't get enough of what you need. OFC the talents/culture bonuses we mentioned earlier, but there's also the issue (at least on beta branch ATM) of skills going up at way too slow rate even at novice levels of the skill because you don't have focus/attribute points there, which makes advancing to even a beginner level of the skill nigh impossible. The list could go on, but you get my point. Core gameplay loop is there, but the stuff around it is not great ATM.
My last point about current skill progression there is probably why OP finds trade weak. My character had 10 attributes in Social, 5 focus points in trade, and even at the end of the early game, clan level 3, I was making up to 7k gold daily from caravans (even after the nerf) and workshops and regularly closing 10-20k trade deals. Making more money as a merchant prince than most lords at that stage. BUT, I OFC focused heavily on trade. Then again, he was stuck at 19 in 1h skill, despite I had killed 1000 dudes with 1her. I think choosing to not focus on a particular skill makes it just impossible to ever increase them to a useful degree, which is too extreme.
Like, everyone compares this skill system to Skyrim, but choosing the Warrior stone didn't make it impossible to level up magic. Just gave you a decent boost to warrior skills.