Absolutely. Six plays (plus another dozen over the years at various shows) were more than enough to show me where the creators priorities are.
This "early code" has lots of video clips and motion graphics and wonderful sound, but there is no game to be found. There are no clear goals and no callouts that guide the player. I get it, your "teeth are sword-zahs", but what am I shooting for??
The screen looks absolutely stunning, but as a gameplay HUD it's a huge step backwards from the modern "show me what I need then get out of the way" philosophy video games have been using for the last decade. Its very busy and needs a lot of simplifying and priotitizing of information to support a fast-action game.
The Hobbit as a platform is just awesome...now they need to make it do something fun.