If you put the lack of missions aside as a consequence of the budget price tag, Banished is still a flawed game. There's brilliant concepts and a core that shines, but a troublesome interface and a general lack of breadth of content is clearly an issue. With all that noted, there's still something strangely and subversively compelling about it in the end. Knowing and feeling all I do, I still want to go back and play some more - and that is likely telling.
It's a smart simulation game with some really great use of modern horsepower atop the basic trappings of older games in a genre that sadly isn't as active as it likely deserves to be. Just keep in mind you'll need to go in with plenty of patience and a willingness to search outside the game if something obscure trips you up. If you can get past that, and you like a bit of simulation, you're going to have a lot of fun.