From the posts I've seen, including this one: https://forums.offworldgame.com/460877/page/1/
It appears that this is at the level of beta, meaning things work pretty well, and the core gameplay is where it should be. Graphics and sound are supposed to be getting updates, maybe some UI tweaks, and faction re-balancing as needed. On the side, I think they're in the infancy on team games right now, although they've hammered FFA pretty well.
Correction: I have no reason to say that team games are in their infancy, except that they've only streamed one so far. I think they are looking at that game mode for tweaking, but it did function well from what they recently posted.