It's not bad - it's just a little bland. The game feels under-developed - which is fair enough, given that it's a beta. If you can get it at a knockdown price, it's worth going for. But it's not value for money compared to say, Civ IV with the Fall from Heaven II mod.
I've been playing the beta on and off for a few months. I have access because I was one of the suckers who pre-ordered Elemental. There's a fun Civ clone in there somewhere, but it's not evident yet. I'm glad they're taking their time with Beta 4.
Valve have finally disabled the old VPN-into-the-US to unlock early trick. Why is Europe still the ugly step sister when it comes to release dates? Pirates are playing G+K right now, and paying customers like us aren't.
In another interview recently (maybe on Rock Paper Shotgun?), Solomon said that in his most recent playthrough of the game on normal difficulty, he'd had 22 soldiers KIA. So unless that gets nerfed between here and release (certainly a possibility) then the game is going to be plenty lethal, small squads and all.