How "complete" is the beta as of yet? Is there any content or just a hiking simulator?
It's barely a beta, actually. I'd say it's still pretty much a tech alpha. The only thing that's feature locked is the world (and you can see only a tiny section of it). Everything else - the characters, the RPG systems, the combat, the VO, the music, the quests, the minigames - are either placeholders or a WIP.
Seriously, I have no idea why Vavra decided to show the game in such a raw state....AND call it "a beta". Everyone who's not familiar with the background will take a one look at it and immediately form a negative opinion. First impressions are so important and Warhorse should hire someone to explain to them how to manage expectations.