Wasteland is now available on Steam, offering new content for Space Engineers. They offer reassurances that this is not a P2W situation: "This content is not 'pay to win' and the owner of the package has no advantage against other players. If you decide not to purchase the 'Wasteland' pack, but you want to play with friends or other players who did buy Wasteland, you will still be able to join a multiplayer game or server with them and participate." This comes along with a new version 1.197 update for the game. Here's a full changelist, here's an Update Trailer, and here's a summary:

The new Wasteland update is here! Wasteland is all about speed, dust, roaring engines, twisted metal, and especially, fun with your friends. We have focused heavily on improving the multiplayer experience, something we hope you enjoy with other players. Wasteland provides you with new choices when designing your creations: New Blocks, Planet and Racing Scenario, Voxel Materials and much more.

Update Features

• New Planet - Pertam
• New Voxel Materials
• Rover Cockpit
• New Armor Blocks Variants
• Scrap Race Scenario
• Hydrogen Rebalance
• Ultimate Spectator
• VST Dedicated Server Support
• Wheel and Boot Print Decal Support
• Performance Improvements

Wasteland Pack:

• Off-road Wheels
• Exhaust Pipes
• Buggy Cockpit
• 2 Viewport Blocks
• Barred Window
• Offset Light
• Offset Spotlight
• 3 Storage Shelves
• Concrete Armor Skin
• Dust Armor Skin
• Heavy Rust Armor Skin
• Retro Future Armor Skin
• Scavenger Character Skin
• 2 New Character Emotes: “Drunk” & “Bite Me”