Sort of. The 'powers' will have missions that players can do, with voting on the direction of each power.
Each power will have an NPC driving the story.
The powers can either be galactic (Empire, Federation, Alliance, Independent?) or Local (Dukes of Mikunn, Crimson State Group, Silver Boys, etc.)
Players can push local factions to become a power.
By reaching power-hood, each faction will give any allied player various rewards, reduced costs, better pricing in markets, etc.