Sid Meier is mostly the old guru guy around the office. He helps out with things when needed, occaisionally takes a more active role if he thinks he needs to, but he has not been a lead developer on their main titles since the original Civilization.
He does occasionally lead smaller projects, but they have a mixed history. he was always excited and proud during interviews for CivWOrl, which turned out to be a generic and dare I say embarrassing Facebook "game" and honestly after that I lost a lot of faith in him. He also headed development of Civ Rev 2 for Android and iOS, which I only learned about via wikipedia. It was okay, apparently. Nothing great.
Hopefully this ends up being more of a Ace Patrol in space game, but I'm not expecting it to have much more depth than that.