It seems like there are really obvious issues with the memory system, armour system, spell-crafting, etc, and they should have been aware of these issues long before now. I'd be much happier if they'd limited their promises and focused their attention on a few features they could implement properly.
I disagree. All the elements above WORK. They may have issues and they aren't perfectly balanced, but they work and they work in a way that creates a fun experience for a lot of people.
And tbh this is only the alpha version of the game. To balance the game properly is exactly what this here is all about. The final release of the game is months away. Larian also changed a lot during the early access development of DOS1, all based on community feedback.