Sad but true. Lack of events = lack of feel of accomplishment. Since there aren´t critical events and most of the economy is automated, in the end the only goal is becoming number 1, and since that WILL involve war, if the war aspect of the game is subpar, then the whole experience will be damaged. There´s too few difference between trying to play the liberal, education-focused and the conservative absolutist country. Not that Vicky 1 was perfect, but considering this game is released 5 years later, I´d expect improvements.
To be fair, speaking for myself, I'm not sure what they can do to make the economy and politics as interesting as war.