It depends on what build you're talking about. I wouldn't even entertain the 2004-2005 builds as being a part of Skullgirls; entirely different programmer and game designer, entirely different game. They were horrible, but the people who made those horrible prototypes aren't even working on Skullgirls anymore.
The correct comparison would be comparing the 2010 prototype builds that Mike created to the final game... and those builds were infinitely more functional than Beasts Fury currently is. IPS had already been implemented at that point so at the very least, there were no infinites. :p
But from what i remember this version is a demo presentation build for the dev right?
At the end of the day this is just something that needs to be good enough for a publisher to be like "This looks cool and interresting. we'll fund your game." It's basicly the same thing that MikeZ presented back in the day with Autumn Games. Then again now is a really tough time in the genres market space to be going about finding someone that wants to put money towards it. Especially if it's a rather new developer.
Does it have anything catchy going for it that might get a publishers attention though?
At the end of the day this isn't even something that should be taken seriously, it's fluff for marketing purposes to get themselves a ride on the back of a publisher. Atleast thats what i read out of it from the kickstarter thing.
No publisher in their right mind is going to back a project that needed two Kickstarters to reach a half-finished state.