I'm going to take a stab on this question (which I have seen more than once):
why was this (HUD) shipped out when it was rather painfully obvious that it wasn't ready by any stretch of the imagination?
Because this new HUD is paving path for future updates, like Battle Sprites. If BS are to have charge abilities, where would you put that ability bar on the old HUD? The bottom would become too clustered if it stays with the Health bar at the bottom. OK, so they have to figure out where to put that Health Bar in the new HUD (which is now at the upper left corner). But that would cluster up with the icons at the upper left corner, so they moved some of these buttons to the lower left (because it looks empty). But wait, wouldn't that block the chat window? What to do? Well, move the chat window up a bit. OK, but wait, this would create an asymmetry with the buttons on the upper right. Fine, we move those to the bottom too.
No we can't do that. The CE gauge is in the way. Hmm.. Good point, let's stuff it into Inventory for now. How about that CR gauge? It looks lonely. Well move it together with CE gauge. Now that utility belt looks lonely at the top, want to move it to the bottom too? Sure, but where? Silly, there is only one spot left (/point at where Health bar used to be). BINGO!