It actually does have gameplay by now, yes.
You can do some basic story lines, there's sorta randomised quests I think and apparently the constant griefing has stopped as well.
But it'll be probably be back in force for the free days.
This just appeared on Steam. Free-to-play mobile port, be ye warned, but I've heard people (some in this forum) say it was alright for a mobile game, so it may be worth a look. There ¡s never enough Age of Sail games