I also don’t think it was released too early… so much as the release strategy was grossly mishandled by Apple.
The obvious problem was that in it’s initial release state it was nothing even close to an alternative to FCP7. It was the combination of new techniques and missing features along with the initial inability to purchase FCS3 which was a major misfire. Sorry to bring that up again but the context is, IMHO even more important than FCPX design and paucity of features.
Apple provided no transition and that was entirely against all previous major changes whether it was OS9 to OSX, PPC to Intel, QT frameworks to AVFoundation. Even .Mac to MobileMe to iCloud all had transition periods.