Yes and no. OCaml already has one of the fastest production compilers in the world, acceptable error messages (better than Haskell's, anyway), a great REPL (utop), a high-quality and well-documented build system (dune), a powerful package manager (opam), and a very good language server for IDE integration (merlin).

What it's sorely missing right now is higher quality documentation output. Currently, it's hard to navigate the generated documentation (e.g., no search bar), it's not held in a centralized online location, and it doesn't do a great job dealing with complex module/functor hierarchies (especially in the presence of destructive substitution).

Unfortunately, much of what I described above doesn't come out of the box. To fix this, the OCaml community is seeking to emulate Rust's cargo tool via the development of the ocaml-platform: http://ocamllabs.io/doc/platform.html

An aside: I didn't know Java had good tooling. I know it recently gained a good REPL. But what is the official package manager, and where is the centralized repository for packages?