I meant more the gameplay style than the difficulty level, but it's less complex than EVE, yes. In Space Engineers, you design and build ships and stations block by block with mined, refined, and assembled components. So it doesn't have much in common with the MMO EVE.
Definitely worth a try either way ;)
You can also do that sort of ship-building in EVE, you just have to do it while constantly defending your miners, refineries, and assembly plants from pirates, competition, and random jerks.
It certainly sounds worth a try, I've been looking for a new game to get into.
Well, try it or watch the video I'm planning to make :) (or anyone else's :P) I think you will see the difference (I also played EVE). It may be harder to describe than to show in action.