I think the best way of looking at this is to list every notable change they've made in the last 6 months since release.
- Improved faction and economic balance. It's still not quite right yet, but it's improved.
- Fixed 10/18 perk trees.
- Improved troop balance a bit.
- Added a handful of new faction armors.
- Added new noble NPCs.
- Added some wanderers.
- Added a handful of new quests.
- Minor UI improvements.
- Minor performance improvements.
- Crash and bugfixes.
- Faction balance is still completely bonkers, the Khuzaits and Vlandians are still dominating everyone and Sturgia is still getting completely curbstomped.
- The perks trees are all virtually still broken, the only one that seems to be fully working according to bannerlordperks.com is the Athlethics tree, all others are at most ~80% or somewhere around ~20-30% fixed, with 5 perk trees still at 0% completion.
- Troop balance I don't agree is good, although I haven't played in months so I can't speak for that conclusively.
- Agree with armor additions being a good thing, although 1) There's so much more important stuff to work with and 2) The new armours released are of much much lower quality than some things already in-game.
- Adding new noble NPC's is literally modder-tier work that takes 3 minutes.
- New wanderers, same as above, and quite a worthless addition in my opinion. The companion/wanderer system is un-fun, uninteresting, and quite worthless frankly.
- Most quests are broken and not worth wasting your time doing
- UI improvements, I agree here.
- Performance improvements have also been good
- Crash and bugfixes have also been good.
TLDR: I agree with the technical updates being good, i.e performance/crash fixes etc. . But I don't think they've worked on/added anything meaningful in terms of content. And that's a big, big issue.