Beware, this entire guide is based on the end-game story and will ruin a lot of the great storytelling that goes on.
After completing the last mission in the game, you will awake in a fresh new universe where everything is reset except for your:
- Player Levels
- Player Powers
- Player Skills
You will lose literally everything that is materialistic i.e. your spaceship, all items, outposts on planets as well as relationships with companions and progress across any and all storylines.
When you do the first mission it gives, you will get the choice to either: Skip all Constellation storyline or start it afresh.
If you skip the storyline repeat then you will go straight to Vladamir to get the artifacts and powers which you would’ve had to wait a little while to get back to.
When reborn as a Starborn, you will wake up with a great spacesuit which doesn’t require a space pack or a helmet. Additionally, you will have a fancy Starborn spaceship to cruise around with. This ship comes with 150 concealed cargo so you can get a quick-start on a new game via smuggling contraband.
The only noteworthy thing I’ve noticed on a New Game Plus is that you can skip a bunch of dialogs on quests using the [Starborn] dialog choice. I’m not too sure on how much it skips, but it’s a nice-to-have.
Apart from that, I haven’t seen any proof that NG+ has any difference to a playthrough.