Eh, I vote indifferent. I'm not a Lore fanatic, but then again the Lore allows for a much richer and deeper experience, especially since, as Arctic Fox pointed out, we the players can't (and shouldn't) have control over politics. This would either leave our galactic conquest mode devoid of politics entirely (which seems rather bland and flat), or the devs would have to take over the role of leader for each faction. They might not want to.
Right now the game looks like an online Team Deathmatch with a few objectives, persistent character progression, and a few 'nameless' worlds we can fight over for our epeen (and a few bonuses). That's for launch. What will we see after launch then?
When I first envisioned MWO, I sorta pictured something similar to Chromehounds or other games which have factions duking it out until one of them controls everything. Afterwards, the devs reset and we go again. I quickly realized that this would not work, since the timeline determines the tech, and the devs could not reset everything back to square 1, when it would be taking away all the precious mechs and gear a player had accumulated to that point, since many of them wouldn't exist yet. I don't see players enjoying that.
The other option is to make a few core faction worlds untouchable entirely, and factions can duke it out for the others forever. Sounds like how the game is now, except instead of 10(?) nameless worlds to fight over, we get 100+ minor ones that don't mean all too much. All for our epeen (since there can never be a 'winner').
Unless (as I think a few others here have alluded to), the devs skip ahead to the end of established canon, and let us do whatever we want. Resetting territory after someone wins would still let a player keep all their stuff too. It's the only viable option I've seen for 'galaxy control' so far.
It's possible we'll see something involving dynamic galaxy control in the future, but for right now and the near future, I doubt Piranha has, or wants to put funds into developing a complex system like that when they still want to improve and add upon core gameplay mechanics.
Edited by HeIIequin, 01 April 2012 - 09:40 AM.