1. The Terrible
2. Feudalism, in my opinion, is a good way to describe the system that existed in Russia at the time.
3. Then why not strengthen it by adding more ports in warmer seas? Closer ports to a market means more trade, more trade means bigger chance of western influence.
4. The unlimited power part was a reference, referring to the famous line uttered by Empire Palpatine I of the Galatic Empire. Industry was not U N L I M I T E D P O W E R, but for Russia, it would be quite powerful.
#1. At the time of Ovan IV Tsardom had an access to the Baltic coast. It was lost under the Romanovs but, surprise, surprise, this loss did not prevent the noticeable growth of the Western contacts, adopting the Western culture(s), importing western specialists, westernization of the Tsardom’s army (well before PI), etc.
#2. “Feudalism” in its “classic” definition did not exist in Russia at any time and, while you are free to hold whatever opinion you want, it surely did not exist by the time of Ivan IV.
#3. Which “warmer seas”? The closest “warm” seas were Azov and Black. Trade on the Baltic Sea continued when the ports were in the Swedish hands and its volume (ditto for the White Sea) was defined by the factors not related to the possession of the ports: Russia did not have suzeable merchant fleet even more than a century after the Baltic conquests.
#4. We are talking about the real history, not the galactic empires and other games. Usefulness of the industries was well understood but there is quite often a gap between understanding something and implementation.