It is just a scam that tells me never to trust anything that comes from Russia.
I signed up for it when it first started several years ago. I got lots of emails from them initially, like "Vote for the flag of Asgardia," "Vote for the National Anthem of Asgardia," "Ratify the Constitution," "Elect your representatives," etc. Then there was radio silence.
Several months ago I visited their website again, because I was curious. And they now ask you to pay money to become an actual citizen. (I wonder what that makes of my previous citizenship, but I suppose they would just dismiss it by saying that it had been a preliminary approval, etc.) Moreover you are not done after paying that citizenship fee, because you will have to continue making monthly payments. Heaven knows where the money goes. (Though, of course, Igor Ashurbeyli would certainly bring up things like administrative costs to explain it.)
It has nothing to do with having a space nation (except for launching a lousy satellite, and heck, we won't live on the satellite), it is just a scam.