There is an ongoing discussion on the forums about the Red Star faction (read more about it in the latest Dev Diary), specifically about its name. A user by the name iferry says that he is Russian himself and that he finds the name too clicheé.
It seems indeed a bit strange to have ‘Soviet Russia themed’ faction in the game, as the struggle between futuristic mega-corporations that serves as background for the game appears to be an extreme vision of a capitalist, not communist system.
On the other hand, you need to look no further than modern day China to see how a society can present itself as being communist on the outside, but actually be capitalist on the inside.