You are definitely not. I use Windows 7 primarily and I'd never even dream of replacing it with Windows 8 in its current state as a horribly thought-out mishmash of design principles.
This isn't Windows 8 RTM, this is Windows (7-to-become-8) Developer Preview where they show off where they are heading, give you a chance to get a feel for it, get a feel for the design-language Microsoft is putting out here and allow you to adapt your applications to this new format.
Because this is really such a new format, you need to play with it to get it.
So yes, this is very incomplete. In it's current state it is not intended as a production OS to replace Windows 7 either. It's a developer preview. It's supposed to bring developers up to speed on the Windows 8 platform and how you build for it.
Lots of people are treating this as a beta, almost like an RTM, and I honestly think people doing that is missing the point entirely.