This is very much the case. When it comes to the SWAT module, the mechanics are actually quite simple to create in comparison to the back-end that is the Town Square. The Town Square is just a social module but there's a LOT going on behind the scenes. It is our foundation.
Even with my own position, I understand the discontent completely. People are looking for some depth and words only go so far.
The reason we haven't shown off a lot is two-fold: first, the majority of the work going into the Town Square is back-end and foundation work. It's grueling work which unfortunately isn't fun to look at. It's the first bit we need to take care of, but it's not something we can show in a visual sense. Furthermore, giving detailed information on the inner-workings of our foundation code can actually do harm when that information falls into the laps of the wrong people.
The second issue is one of psychology. Anyone who's been following games for much time can attest to the fact that first impressions are the only ones which matter for most people. This doesn't apply to everyone, but it does for the VAST majority of people; even if people understand something is a work-in-progress when they get their hands on it, the impression they get from that experience will persist.
Fortunately, we're coming to the end of the worst wait in this. I know you've heard something like this before, so it's likely taken lightly, but it's looking quite up right now. In fact, we're not far from handing out the Steam keys to prepare for a Steam launch. Our earlier estimates were well off the mark because we ran into some pretty significant issues with the engine. Keep in mind we have a HEAVILY modified version of Unreal Engine 4. We've done some pretty large changes to accommodate a real MMORPG.
I wish it hasn't taken this long, but we're committed to doing this right. We're not going to take shortcuts and release a product which isn't up to our standards. The wait is almost over and you're going to be getting some fun updates quite soon.