I just checked again and it's actually £43. Soz
I currently have access to the following:
Arena Commander
This is mostly ship battles v AI and other players and races.... and not part of the main game. It's essentially the mode to get you used to flying a spacecraft and has a tutorial.
Star Marine
This is the first person shooter mode, in and around space ports, you end up fighting partly inside a controlled environment and also some in the vacuum of space.
Star Citizen Universe
This is the main MMO game that we're all waiting for. There are some missions involving clearing pirates from attacking comms satellites, a detective mission, and a few others. It's not a massive amount of content but this will change with 3.0 an the introduction of an economy and occupations etc.
As I was an early backer I also get access to the separate single player game (Squadron 42) but new players now have to pay for this as a different package. It has Mark Hammil and Gary Oldman so I'm looking forward to it. Plus Rich has worked on that side of the game
SC is coming together and they've had to learn and create new ways of doing some things, I can't see it being completed for a while yet but 3.0 will be a big move in the right direction.