Devs really don't have alpha and beta standardized.
Gameplay-wise the game is probably in what we'd call a beta state, but structure-wise it's probably in an alpha state.
That said, would you rather have this, or have Capcom test everything by playing between Tokyo and Osaka, seeing it's ok, and thinking it's good enough? That's how it used to be done.
It's ok to be mad at this- Capcom did make it sound like you'd be able to play this weekend, and everyone's hype as hell. That said, Capcom is getting a lesson out of this before it can seriously hurt the game, and that's what important.
SFV failing would be BAD news for Capcom. They know this.