The concept is good, but the game is not finished in my opinion. Hopefully there will be lots of good updates soon. The main problems are the poor translation (i means it), confusing interface and rather poor tutorial. I'd give you a basic guide, if I didn't have an exam in 12 hours... You can basically be a warrior (go around killing pirates later players), merchant (trade goods between ports), explorer (gain experiance from discovering historic sites) and craftsman (collect materials to sell to players or use to build ships\equipment). You can, and probably will have to, be all 4 to some extent on a single charector. But it can be quite expensive to pursue all 4 roles at the same time, at least in the beginning.
Ship combat is interesting, primarily because it's a new idea for an MMORPG. I've not got round to PvP. There is also hand-to-hand combat using swords/guns/etc, against NPCs, dueling friends, or boarding the enemy ship in PvP (or NPC ships). Merchant trade gives you experiance based on the profits you make. Ports offer different prices for goods, but they remain the same so you'll need to find the best trade routes. Not tried explorering to any great extent. Apparantly it gives good experiance. Collecting resources for craftsman is very boring. You stop at a rock or tree or something and go eat, read a book, or meditate for a while. But it can give good money.
Overall it gives a novel and unusual game concept, but suffers from confusing concepts for noobies, poor translation and unfinished material (there are regular updates though). If you are interested in 16th century history or want a game with naval and "person-walking-around" activities, give it a try.