Trailers mean nothing here. What matters here is that it's version number .08 alpha and people are laying some massive criticism on the game because there's not much to it and it's not very balanced. This is so incredibly early in development that it's a stretch to call it a tech demo. The guy is just putting out what he's doing and explaining what he's changed since the last time, and we're treating this like some sort of Minecraft beta where we expect it to be a full game that's just being tweaked. It's not. "In-Development" doesn't mean "a cool game that's almost done" like a lot of people seem to think.
Thinking about it a bit yesterday, I think a big problem people are having is the graphics. This has nice graphics. I mean, let's be honest, it's no EVE or Skyrim, but for its intended display it has very good graphics and mostly fleshed out animations and variables like hair styles and clothing options. That's usually something done last, as most games focus on building core content and gameplay and then make it look pretty. This is going backwards, the developer is a professional animator/artist and is doing what he knows first, and making it look nice. When people see a game that looks nice they assume that means it's already done all the core gameplay and bugfixing and the creator is finishing up with the graphics. If this had stick-figure icons and no animations, I somehow think people would be more lenient, because then it wouldn't look as complete as it does.