No this is absolutely NOT Pay 2 Win. This game is a grind, all you need is time. That being said time = money, so anyone willing to pay will have an advantage that you can only overcome with time, so they can edge you out if they keep paying.
This game has a very long cycle and is really a marathon, you will not have everything, but with reworks and faction passes things that is old is given a second breath later on down the line. Also with TB, ships, and now TW everything you invests in has some long term value.
There is also a heavy stream of crystals from arena and now fleet arena, if you can work your way to the top then fight tooth and nail to stay there and that will be your lifeblood for years to come.