It is not unplayable, I have played several hours of it, even without any major crashes. There are some serious bugs, mainly regarding inventory and exp, and some serious balancing issues. The game is playable for sure, but needs polish. But to me, polish does not mean "break down and rebuild from scratch". There was plenty of warning before hand of known issues. The beta has only been going for 5 days, let's see how it looks in 2 months.