Ok, got the full Version now, time to make some Freespace Creatures.
About Question: Your able to build Creatures, Vehicles, Planets (Terrain), Houses, Clothes, Space Vehicles, Citys...and if i´m not wrong, you will be able to set up your own Galaxy. Imagine it to be like "Sims" Neighbourhoods. You can use on of the Maxis defaults, you can fill up a Galaxy with content from the Sporepedia, or you could build the whole Galaxy by yourself.
You are able to play ALL of the 5 Phases, or just one of them for a longer Time. I consider there to be a Campaign Mode, that leads you through all 5 Phases and the others are "Scenarios".
I´m pretty sure, you will be able to recreate the whole Freespace 2 Universe, if you have enough Information about it...