It's simultaneously more and less ready than I thought--it's more ready narratively, map-wise, and full of the little interactive whats-its that made the original so popular.
Then I realized how UNREADY parts of it were--the parts of the maps that pertain to the crafting system, the leveling system, etc. The things that I've been putting off work on until last and yet are still an omnipresent PART of the game and basically need to be snipped out for now.
Bear in mind also that the demo will be limited (for now) to the "snippets" and "content" pledge reward, which is $15. But don't worry--the rest of you will be getting plenty more details. And before long, an official release of the demo will go public.
So, it's coming. Stay tuned. Hang out. Hang ten. Tune out. Whatever you gotta do.