I believe my response based on the fact that I have spent my entire career developing software in shops ranging from just a few people to ones even larger than Bungie. You do not have to believe what I have experienced, in terms of software development practices, but you sticking your fingers in your ears and yelling "Neener! Neener! Neener!" has no impact on what I have been exposed to that consumers are generally not aware of. Other developers who play this game have stated the same thing on other countless threads, just like this one.
Honestly, I have no idea what point you are trying to make in your statement. The Ultra Captain is a placeholder, likely from play testing a spawn point. That is not what an NPC is. An NPC is Eris, a mechanic that Bungie specifically said was added as a content delivery mechanism based on user feedback. Completeness is not, and never will be, an indication of something being cut. The only thing that it proves is that they are ahead of a deadline - for however "complete" something is. If it was done and ready for everyone to access, it would have been either included or sold to you already. They have absolutely nothing to gain by holding back content for quarterly releases when they could have sold it to you thrice already.
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They actually have a lot to gain by holding back content and reselling it. Not saying that's what they are doing but what I will say is the game is lacking more than it should.
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Agree that the game is lacking in the content department - have never personally disputed that. But, I really do think that it wll have to be addressed if there is any chance of viability of the franchise running its full course. There would be even more to gain, though, if the end-products were as easy to produce as it was claimed. And that is my point, ultimately. If they could efficiently increase the pipeline to deliver more content, you would definitely see it. If they turned around what we have gotten in terms of scope, DLC-wise, on a monthly basis - even at $10USD per month - they would likely do it, as they would be generating more income.