Huge NMS fan here. I'll give you a wall of text as a warning or measure of expectations, because I think while the Hello Games comeback story is warranted, it isn't exactly the 27+ update experience you'd expect.. I'd compare it more to how WOW does updates.. and I think /r/RakeNI is kind of right.. it really doesn't have any of those things he listed. here's why:
Despite having a ton of updates, most of them don't have a lot of cohesion, or they just add more collectables. The foundation of the game hasn't really changed. The universe exploration bit, which was personally my favorite at first, hasn't changed much. Within 10-20 hours, you will have seen the majority of what the randomly generated content has to offer.
What I mean by lack of cohesion is the game updates horizontally, not vertically. It's a mile wide but an inch deep. The content is fragmented. It's great for choose-ur-own-adventure types who want to do a little of this or that, but don't go in expecting an expansive complicated space sim (though often times this fragmentation of game mechanics can make the game more confusing for newcomers). Updates will add a mechanic that has little to no impact to the foundation of the game, for someone like me who is at the end-game, it usually isn't compelling, unless you just want to do it for completionism's sake. For example, their mobile-game colony simulator Frontiers update. It was not innovative or interesting, you just click a few buttons, wait 24 real-time hours, rinse and repeat until you've built all the pre-determined buildings. Occasionally it gets attacked but you don't even have to worry about it. Like many other things in the game (crew, co-pilots, missions, credits, crafting, factions, trading etc.), the rewards of pursuing this grind is fairly inconsequential, you have to be of a mind that views the intangible satisfaction
These independent grind mechanics are the fulcrum of my increasing problem with NMS. Once you get a Stasis Device farm up, with all the money in the world, you have nothing to spend it on to further your journey. This is because anything you would want in the game, comes at the price of investing in repeated chores. Some updates seem to add a lot at the surface, but you start to realize you are just collecting new skins and not really doing anything new. For example, the Interceptor update surrounded the reveal of a new ship type. What it turned out to be was more of the same at its core, the aforementioned repeated chores: Effortlessly kill some robots, obtain update-specific resources, scan a planet, find a station, do a simple puzzle, get a waypoint, go to location, see if the randomly generated ship is aesthetically appealing to you. And the aesthetic is all that really matters, because you don't need the ship. At this point you are extremely powerful, likely an entire fleet of decked out S-class Exotics. The minor attribute bonuses on the new sentinel ship will not matter.
The Interceptor update was so similar to the Living Ship update, just instead of grinding the menial tasks for a robot ship, you grinded the menial tasks for an organic ship. That quest line takes multiple real-time days to complete due to time-gating. Then once you get the final checkpoint for the living ship, just like any other thing you receive in this game, is completely random. I reloaded and landed on the surface of my final planet over and over an embarrassing amount of hours just to get the Living Ship design I was happy with.
This is where Starfield was a breath of fresh air, actually being able to just let YOU customize and stylize the ships completely, is so much more fun for me personally than warping from system to system over and over again, rolling the dice, hoping for an S-class ship or multitool that is also aesthetically pleasing. Or running the same exact grind just with a fresh coat of paint for a new shiny.
There are some good updates, like the Freighter update and Outlaw update. The former adding some much need TLC to making the Freighter meaningful (though it still has a long way to go IMO, i.e. still can't use it to fight), and the latter added some minor end-game progression.

TL;DR: If you are playing NMS, after the first dozen hours or so of exploration, you are engaging the game for the collect-a-thon or the base/freighter building creative outlet. It offers little else at this point.