They entered a "second sprint" of development back in August. By December, they had done their first play test. It has been 4 months since that first play test news came out. In January, the first look was teased at potentially being seen last month at GDC. I think we are beyond "barely started" in development right now after 8 months since that "second sprint" news came out, though I definitely don't think they can release the game anytime now. Pretty sure optimizing & final testing are well down the road.