It's severely annoying for two reasons:
1) It's completely inconsistent with the fact that Military production automatically converts to social manufacturing on worlds without a Shipyard to sponsor; this behavior is automatic, doesn't even need a Project, and is available from the start of the game. Yet the inverse isn't, and futhermore, require significant effort to get?
2) It seriously cripples early-game play. Without getting the new Project, you're left with ONE strategy: Stop building on the Homeworld, put the Social/Military Slider to 100% Military (so you can actually get some colony ships built in a reasonable time), then NEVER build a shipyard on anything else until you've completed the expansion/colonization phase.
Early-game, you need to pump out colony ships to claim worlds (and the occasional constructor to get some strategic resources). Not being able to focus a planet's output on shipbuilding without crippling building creation on all other worlds is pretty much a game-breaker (as is the inverse choice: allow building on colonized world while crippling shipbuilding ability on the Homeworld).
And the fact that the "fix" Project for this behavior is #1 not obvious at all, and #2 on the MOST EXPENSIVE tier-one technology (it's 4x the cost of most others, and 2x the more typical "expensive" one) is stupid.
Since you'll almost never need to build warships until a well after turn 50, and typically can make it to turn 100 before they're really need (even later, if you use the Pragmatic ideology ability to disallow war on you for 50 turns), Orbital Manufacturing is extremely low priority, because that whole tech subbranch simply isn't needed for exploration and colonization. And remember your research ability early-game is pretty limited - the "cheap" techs start at 4 turns to get in the *best* situation, and you quickly get to the place where a tech costs 8-9 turns. Note, that Orbital Manufacturing will cost you 30+ turns at this point.
So, in short, the lack of the Project as a game-opener forces me to spend 20 turns (and give up 3-4 other techs I would have had otherwise) researching it as perhaps the 3rd or 4th tech I get (which means I get it around turn 30), and I get ZERO use out of that tech for another 50+ turns.
Yeah, that's not broken at all.
If they don't want to give it immediately, then they need to create a specific tech (maybe "Orbital Construction") for just the Project which should cost the same as all other entry-level techs (e.g. Interstellar Travel); this can be a precusor to Orbital Manufacturing.
And no, it's not anywhere near the same thing as not having Tourism not enabled to start (or Trading). This is a problem that cripples significant portions of game play, and seriously restricts choice and strategic options. Orbital Manufacturing effectively is now a "must have" technology, without which you absolutely will lose to the AI.
As a side note, I've already noticed the new setup has a SEVERE NEGATIVE impact on the AI's performance; those races which don't research it fall way behind in the colonization phase. The AI races which have it are far more potent than those which don't. The AI plainly doesn't understand how to deal without this, and doesn't recognize the important of obtaining it.