The number of hours you've spent in the game has zero bearing on how much content you've consumed.
I've spent 45 hours into the game, for example, and am less than 1/3rd through.
How do you know that you're only 1/3 through?
I hope that it's not bugged. It just seems not reasonable to me to give players the ability to respec their chars NOT early in the game (I'm already level 15).