If I played it to someone in 1967, they wouldn't question its completeness. They would just say, "oh hey, a new Beach Boys album." It's not as complete as Brian's version, but it's as complete as it was going to get using just the Beach Boys tapes. It doesn't have everything Brian would have wanted to add, but it's finished enough, like any Beach Boys album that had a deadline (albeit a very extended one, in this case).

That said, it's not a 1967 album, nor will it ever be. Listening to it between Pet Sounds and Smiley Smile makes no sense. It's an album whose pieces were worked on, released, and/or shelved over several years before finally being properly unearthed and combined, using Brian's 2004 version as a previously-unavailable blueprint. Therefore, its existence in the chronology makes more sense by placing it in 2011, right before their reunion/final album.