It is never finished; there's always something missing. It took X almost 4 decades to get where it is and during the ride it was abandoned as a mess. It was never finished either.
We see also arguing that something is missing, while it was there for years (like screenshots and capture), or nitpicking on global shortcuts. Global shortcuts are so incredibly long tail feature, so pointing it out is actually a a good thing. It means that Wayland is already here and nobody can find anything better or more important to point out (if it were up to me, I would agree with you on color management, but that is something that X never really had).
App support is something entirely different; apps like Krita can run under Xwayland just fine and transition on their own schedule.
The "it's actually already there" effect is usually either one of two things: either poor communication, or poor rollout of actual support amongst apps. Both of those are hindered by a slow standardisation process. And I do wonder what makes you think global shortcuts are a long-tail feature: they're extremely commonly used! And app support is 100% key: it doesn't matter if wayland supports something if the apps don't actually use it!
Remember the excel effect: each feature which was previously implemented by snooping and injection may only have a small number of users, but there are many of them and most users will use at least one of them. If you want to replace a system and not have users hate you, you need to implement all the little fiddly bits as well: my personal example is krita, which is not supporting wayland until it has support for tablets and qt has support for that, as well as color management (these aren't even things which were insecure on X11!). So for the forseeable future an app I'm unwilling to abandon is not even looking to start with wayland support until wayland has sorted itself out, and then it looks like it'll take them a few years to actually deal with it. And so it grates when I hear 'why is anyone still on X11?'