Well I would say it's functionnal and hasn't reached enough production machines.
I don't understand the hate that systemd seems to bring in people. It may not be perfect but the good largely outweights the bad and anyway most of the arguments against it are the same copy pasted critics from day one, when they aren't pure name calling against its author.
From a user perspective I for one am glad to be able to start and kill services in a reliable maner, to have structured logging and a set of base system components that are simple to use, coherent and well documented and make taking advantage of otherwise painful to use Linux features easy.
Most anti-systemd people seem to be adverse to change and would rather stay on SysV init, but seriously how much longer are we expected to stick with that symlink mess of ugly scripts that can't reliably start a service in a reproducible environment or track which process belongs to which service ?
I often see anti-systemd people advocate a move to FreeBSD, but there is a reason behind the existence of the nosh or launchd projects... BSD init might be cleaner than SysV but it suffers from some of the same problems.