Planets definitely need work. Firstly, the gravity on current planets is terrible. That is the first step to be corrected to make planets better. I'm not sure the best way to do it, but I think the planet needs a center of gravity that pulls objects towards the core instead of this weird wonky thing that happens as you pass over corners of worlds on a ship. In some way they need to be round. And loaded as one objects that may load blocks at a time as you get closer, but here is my suggestion.
1. Assuming a central point of gravity can be made. Make the core of every planet generate an atmosphere and gravity based on the number of blocks within its radius. Set it's radius some 300 blocks higher in a perfect circle than the maximum size of a planet in the config. This will also be where gravity starts to take some effect. The closer you get to the center the stronger the gravitational pull. The gravity should be based on the total of blocks on a planet. Atmospheres also should vary from planet to planet and some planets might not have any atmosphere at all, but they all should have a center of gravity based on the planet as a whole.
2. Spend the time to write tons of planet templates. One for every size, and shape variation of planet possible for the game to work properly. This could be continuously added to even after release to constantly make better planets. Spawn in worlds more like the way stations and ships are spawned in block by block. However, the game will spawn a template world first then all the generation effects could be added to behind the scenes threads to make every planet unique. Start generating the planets as soon as the universe is created and continue until it is completely generated starting from the center of the galaxy or the starting sector. This may cause starting servers and new games to take a while to generate the universe, but the quality of play will be well worth it.
3. Set in the config the range of size that is possible. Allow it to be configurable like it is now, but based on the best performance sizes. Also allow for shapes of planets to be configurable, but definitely have Round, Cube, and Dice-like shapes. (d-12, d-14, d-16, d-20, ect)
4. Add randomized generation effects that occur on every planet differently based on the universe seed. For example things like Mountains, Valleys, Craters, Resources, Caves, Civilization Ruins, Temples, Pyramids, Alien Tendrils, Fauna, Flora, Trees, Aliens, NPCs, Empires, Anything that will make a planet unique, ect.
5. Prioritize universe generation to planets closest to starting sector, and working outwards.
6. ADD to this idea anything that improves upon the quality of the game, and never make planets an instance.
Let me know what you all think.