It's not that "many" of the components aren't available, it's all the components anyone cared about. It seems like you won't be able to swap out the CPU, GPU, RAM, battery or screen. So if you want a phone with a faster CPU, you need to buy an entirely new phone, which goes against all the hype for these modular phone plans.
From the venturebeat article linked below: "The idea of Ara is to ensure that your devices are future-proofed, meaning that the whole “upgrade every two years” mentality is no longer a thing. ". This certainly isn't true. Though I guess it could be slightly cheaper, since you would be just buying a frame, and could pop in your old camera module.
There also aren't any modules being shown that can clue you into what the potential is. The only thing recognizable is a camera module, and what I'm guessing is a small e-ink display., every other module is just an unlabeled colored/textured rectangle. In every article about it the only example ever used is a camera.
The module idea actually seems really cool, a standard way for anyone to create hardware for your phone. But I think the "modular phone. Upgrade one bit a time. Never obsolete." marketing angle is a blatant lie.
Edit: I agree with one of the jokes in that Reddit thread about this
Here's what I want for my six modules:
1. Camera
2. Battery
3. Battery
4. Battery
5. Battery
6. Battery
Because really, what else is there?