Been playing it off and on for a year now.
If you treat it like a hobby, not a game, you'll see the value in this game. Its a truely long-term investment. Not like WoW where you can level up a character in 3 months or less and be just as uber as anyone else.
The real fun in Eve comes in the player interaction - finding new and different ways to make money by ripping suckers off, pirating, or working with other players to achieve various goals (player owned stations, claiming territory, etc.) Basic newbie things like solo mining are about as fun as watching paint dry. The original response was wrong about only 2 ships being worth flying. There are tons of ships worth flying, each with very different strategies. The PVP (even PVE NPC hunting) aspects of the game can be quite deep.
It is, however, VERY slow paced. It will be a long time before you can play with the big boys, so you have to have patience. This is why I call it more a hobby than a game.