Game is currently at version 0.4.0. (Only devs and their personal relationships have access)
First pledge playable version is 0.5.0. They've been combining all of the features they created for 0.4.0 into 0.5.0 for over a year now. So, 0.5.0 should be available in the not too distant future. No specific dates have been given.
Alpha1 begins at version 1.0.0-Alpha1. It is currently unknown if there will be a 0.6.0 or if 1.0.0-Alpha1 will be after 0.5.0.
Once in game, an orphan can become the ruler of the world. Titles are not locked, they can be gained and lost. There are multiple routes to obtaining land, each with their own pros and cons.
(Disclaimer: I'm not a dev or anyone official. This is my own opinion that I have obtained from reading many different things and piecing it all together.)