Don't panic. SoW is the new engine.
But even if the models were all completely finished, you'd still have to make all the effects, put it together and make it a full game, with GUI and all that.
They have an alpha now, so we're on the way, but it doesn't mean we're close, yet.
Patience.
Doesn't matter if it will be this year or next year - it will be awesome and it's better to not rush it out of the door.