As I said, it's not a AAA title. Making good looking humans demands a lot resources. Especially if you want to have customization in. Making space ships look good is much easier, like in GalCiv. Sure I wish the units looked better, but they don't seem that ugly to me.
As for the rest of the art, the world looks good in the latest dev journal, and the spell icons that I've seen are very good looking. Spell effects are pretty good too.