Yeah definitely. But that decision was often determined by what key techs you had or your enemy didn't. Like if the enemy had black hole generators you didn't want small ships usually, or if you had advanced repairs then you might want a big ship. If the research wasn't totally random it would be fun decisions. Like how you can go all shield tech or skip it entirely and go all engines on small ships with inertial stabilizers and make all the enemy shots miss. In moo2 shields always seemed kind of meaningless. And all the weapon choices weren't much of choices either.
Moo1 you have a lot of choices, like missiles or lasers or gatling lasers, all effective at countering different stuff, but many times you were just stuck with whatever research popped up.
Also found yet another 4x space game released today,
http://store.steampowered.com/app/322540/. Just seems like anything released with the MOO name will have a rough time as it will get compared to the classic games plus a myriad of new ones.