[Outdated][Bug 1.22 Steam] Game crashes at start

I bought this game on steam just yesterday and am very excited to play it. However if I go and start it, it gives me a black screen and a dialogue window comes up saying basically that the game crashed. I’ve attached the three files in my debug folder if anyone can point out whats wrong. Thanks for the help.
debug.txt (660 Bytes)
drawdebug.txt (372 Bytes)
errors.txt (2.89 KB)

Wow thats pretty fundamental.
Especially this:

Is this a REALLY low-end video card, like amazingly old or low spec? If not, then there is something wrong with the driver or its not installed correctly. That would be my guess. have you checked for an updated video card driver?