Why was such a bad app released?

I downloaded Thred and played with it a lot over the back end of last week and at the weekend.

It seems it was rushed to get released as it's just not good. Why was it released in this pitiful state? It has potential but this is so disappointing! Why not hold off for a bit longer and get people going 'wow' when it's first used.

I've told people about this but after using it more and more, it just lacks care and attention and is littered with bugs. The massive sell off reflects this.

Question - why not just hold off a bit more and smash the all-important first release. First impressions are everything!