Yea, unless they seriously increase patching the game will be nowhere near release by October.
They haven't finalized combat yet. They'll need time to not only implement it but take time to have it tested in pvp.
They haven't even got boats holding passengers without falling through yet.
They haven't implemented all their races, only two - and one of the two doesn't even have proper customization options.
They haven't fixed the attribute system yet (which is vital for a release...). The way you build a proper character now is ass backwards, having to select skills you don't want just so you get the attributes you do want maxed.
And worst of all, they haven't touched on any kind of siege system yet, and they don't even plan to. That's reserved for the future. How is a game based on faction warfare going to release without an actual faction warfare system?
But maybe they plan on working overtime from now till then on getting this stuff working? Half the stuff on their roadmap listed as for release isn't working yet, so for them to release with it they'd have to fix it all. Will they even manage to get all that done? I hope so, or at least delay it if they don't.
My hopes for this game have taken a dramatic dip, but I still really hope they succeed. Every sandbox game like this that fails just means less chance of more of the same type being made in the future. People might start to go "Sandbox? That never works, lets make another generic fantasy treadmill."