I haven't played it in awhile, but the devs posted a road-map for 2015, and they have been patching the game at a decent rate. It looks like the MMO is very likely to happen sometime around early 2016. Its still only a crafting and building game right now. The PVP is there, but needs some time and work.
Its worth a buy at this price if u have the money, since u get the MMO and some bonus cred.
I think most people would rather spend that $20 on H1Z1 right now. However watch out as the 20+ LotD guys that are playing got locked out of their base by enemy players using teleport and duping ammo hacks. As soon as I heard that I stopped playing hardcore and changed to casual until the problem is fixed. I'm not going to bang my head against a wall dealing with the same issues DayZ and Rust had again. Assuming they have been fixed.