While the village does grow and evolve to some degree, I think the major complaint is that there isn't anything interesting after the mid-game (~200 - 300 people). You have a couple churches, a couple breweries, and after that it's mostly making sure your food bank is balanced. Heck, churches and breweries aren't particularly interesting and had no noticeable effect on my villages. It would have been nice to have something slightly more complex to aim for after that, even if it was just a monument of some kind - And, like churches, markets, and breweries, the only barrier to creating them is how many resources you have. There doesn't have to be an unlock system to make things interesting.
Having played Tropico quite a bit, I can say that even though your statement is true, people in that game are still pretty one dimensional. They have political beliefs that they might act on sometimes, but really it just comes down to a faction percentage you have to keep up and that isn't really very difficult to do. I can see their parents and which faction they belong to, but it doesn't really add anything to the game play.
The thing is, Tropicans could be attributed a personality despite the little information you're given of them. They have families, skills, jobs, beliefs, and they do stuff independent of what you may want them to do. You can imagine that a person would act a certain way depending on all of this stuff. Sure, they become slightly more faceless as the game progresses, but in the back of your mind you'll know that these people are at least simulated to a higher degree than a bunch of robots. Banished doesn't have that feeling, even though the number of people between the two games are almost the same.
Don't get me wrong, I enjoy Banished quite a bit, but those two things would have added a lot, doubly so if there were interesting mechanics behind them.