It appears that Sea of Thieves devs aren't as worried about the apparent lack of content as they are with in-game mechanics. Rare's latest patch weighs in at 1.20GB and brings updates, balancing of weapons, ADS sensitivity fix and more.
Rare's first update is the the Ferryman's message, which can be found on the door of the Ferry of the Damned. It tells players how to scuttle their ship, just in case they find a need for it.
Sea of Thieves Blunderbuss got a nerf while Eye of Reach got a damage buff. The devs say they're keeping an eye out for any other imbalances although we wouldn't expect anything radical.
Aiming down sights, popularly known as ADS, has been a chore on PC, and Rare claim to have "heard your feedback regarding how mouse-mats around the world were being worn out".
Aiming down sights was in fact "painfully slow", but that is no longer the case. The bug that prevented Sea of Thieves player from equipping a second weapon has been fixed as well.
Rare have made sure players are being properly notified prior to server shutdowns. Apparently, there will be at least a 30 minute warning, to get yourself mentally prepared for being kick out to the Beach of Thieves. The company claim that while they can't promise no server outages, they hope the notification system at least helps.
South Americans will have a much better time in the game from now on. Prompted by poor ping, Rare deployed Sea of Thieves in a local data centre. They also applied "multiple server and client crash fixes".
Unfortunately, it seems that the issues with changing appearance as well as delayed items and achievements are still plaguing Sea of Thieves. The game's last update claimed to have fixed it, but it appears Rare underestimated the issue.
The devs have been touching up the social component as well, ensuring proper communication between players. In fact, the Sea of Thieves patch holds plenty of other minor updates, which you can find on the game's official website.