I don't think "for the time" is that relevant here. My major problem with it is how shallow it is. All 5 phases are so repetitive, with so little variations and so little to do.
The only good things about it were the editors, those were impressive, especially the creature editor. But it's just cosmetic, mechanics are so poor almost nothing emerges from it. It's quite disappointing for designers that have been major actors of the simulation genre forever.
There are several projects trying to do their own life sim. One that was supposed to be published by Paradox was cancelled recently, shortly before planned release, and to the surprise of the dev team apparently.
This is not an easy genre to develop for, lots of things can go wrong and it might be hard to find a good balance between boring and unmanageable feature creep.
Even Cities Skyline devs had a headstart, they already had a successful transport sim before they tried to fill the smoking crater left by EA SimCity's explosion.