The general sentiment I’ve seen from those within Tesla explaining it is that FSD is “just” the marketing name, and it is a set of capabilities in beta under active development to achieve and improve on its full set of capabilities. What’s unusual is that it’s a paid beta costing as much as what I’d think a final version would, and the fact that in its current state it is required by law to require occupant attention and inputs.
Elon Musk said he expects it to exit beta status somewhere in the 12.x train, which will tell us once and for what they define as “full self driving”.
I’ve used a few times and in those limited cases it was definitely fully self driving (albeit not my driving style), with an occasional nag to touch the steering wheel. It was mildly disconcerting at times =)