I completely agree with the OP.
I, too, was disappointed with no storyline. A lot of current games that are not space based have campaigns that people buy JUST to play the storyline. Being thrust into a galaxy that is arbitrarily at war with greenie meanies and told to "make up your own story" is rather dull. The game speed kinda gets in the way of a good imaginative story. For example.
Normal speed game.
Joe the Trader was having a bad day. (Trade ship leaves docks.)
Not a horrible day, mind you, but a bad day in most anyone's eyes. His phase drive engines were barely operational due to lack of payment from his overbearing boss, and he just heard the rumors of galactic turmoil in the sectors he was heading to. (Trade ship at phase jump point.)
Strangely, these rumors of turmoil were inconsistent with what Joe knows to be true. The galaxy (phase jump underway) had known only peace for all of Joe's life, leading to, up until most recently, prosperity and (phase jump completed, pirates closing on trader ship) a dull existence during his contracts.
Warning klaxons began blaring in the pilot's chamber. Joe's coffee dropped from his fingers in surprise, spilling molten java into his lap. Joe sprinted across the the chamber to see what the alarms were. Phase drive offline already? (Pirates begin to attack) Unknown debris found?
His fingers whirling catlike across the neural interface, Joe (Trader ship explodes.)
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Really. How can you make your "own story" when all your favorite characters are dead in less than a page?