Spent some time with the alpha, and yup, it's definitely an alpha release. Nice preview, though.
You do get control over some of the most important parameters, such as attack and release. Other useful controls aren't present, such as delay times or tempo sync. It is, after all, the "lite" version and meant to be only a rompler, so having few controls is to be expected.
Some of the arps do not seem to be tempo-synced, and there's no rate adjustment. Some of the patches seem out of tune or tuned strangely. Many of the patches come preconfigured at maximum volume, and you can't save changes, so beware! You can flag patches as Favorites but there's no facility in the browser to search or list them. I could find no way to assign a MIDI channel to the instrument. A few trivial display issues, but no showstoppers.
I'm sure these will all be addressed prior to the official release. I've demoed the full product and heard what it's capable of, and it's impressive. Don't judge Synthmaker by this pre-release version.