Well, there is always the example of thier work called High Seas.
Pirate ships tend to be invulnerable.
Cannon supplies require saltpeter which the Devs have nearly completely strangled off, even despite the claims of a few of how many thousands of saltpeter they can get an hour with extreme ease.
Shoot, they added all those Alchemists that sold saltpeter so players could have plenty for making cannon supples, apparently realized, "OMG! They're actually going to be able to enjoy fighting ship to ship with cannons like we advertised! Get rid of the Alchemists and give them some imeffective method to get saltpeter that we'll rave about but will make sure most can't enjoy the ship to ship fighting of the 'great awesome, <other PR bull> of High Seas!'
The process of making the cannon supplies using just game provided software tends to be slow, tedious, and a ridiculous amount of work. It's rarely sold even in Luna on Chessie.
Fish now weigh 10 stone so you have to drag a pack animal around to unload your backpack into every few minutes. Do this on shore and the pack animal will throw itself into the jaws of the first monster it can.
I'm getting ticked just thinking about High Seas, I'll let others list off more faults.
EDIT:
And then there is the new Britannia ship with it's price guarenteed to be out of the reach of 99% of the Players. Can you say 'wasted Dev Time' Cal?