I've played 1300 hours and still going. So but everyone feels the same. I guess it depends on what your main interests are in the game.

If you enjoy fighting and bosses, then yes, it's lacking. If you live exploring, sailing, farming, or building, you have plenty to do.

BTW, you know you can jump worlds to move ore right? You don't have to rely on ship or cart movement if you don't want to.

I build near the resources I need to gather, store them at said location until I'm ready to move it. Which again, I do by moving then between worlds.