I think they have almost finished the game completely; they are just polishing the details now...
They won't let beta testers play the full game. They're not fools.
This is a widely used practice. For example, all automakers use special versions of their cars for such tests. These versions share the body and interior with the mass-produced product, but the engine, chassis, and tires are slightly different. As a result, they create a good image before the start of sales.