Its similar in a wild way, but the games are very unique in practice. Love is about exploration in an open world, finding resources and fighting the rather trigger-happy AI... it just doesnt feel anything like Minecraft.
The terraforming system is more about manipulating than building, and you're always on the hunt for "tokens", which are basically tool-dispensers, but you need a few specific ones to do much of anything (config tool to get power, power generator to replenish your power supply etc.).
Its a very strange game, but unlike Minecraft, it relies on players working together to get the job done. Its also (IMO) not as fun as Minecraft, almost purely due to this lack of players.
Its a shame its so quiet, doubly so when you see the almost constant updating Quel Solaar is doing. And the game is much improved since I played it last year, if not quite enough; Tokens are still really tough to find, the AI is by turns totally passive and then suddenly swarming your settlement, the graphics are amazingly beautiful but irritating on the eyes after a while, there are very few sounds in-game, and overall there is little end-game (although thats not a problem at the mo, you cant REACH the end game when your the only one playing).
Minecraft + decent multiplayer and I would probably stick with Minecraft, if I was honest.