Half-Life: Alyx is known to be releasing in March even if we don't have an exact release date for it yet, but we do know now that the game is pretty much finished save for some final tweaks. The developers of Half-Life: Alyx confirmed this in a Reddit AMA they conducted about the game this week with one of the first responses addressing the status of the game's development. Multiple people at Valve have played through it several times by now, and the studio is confident that it'll be hitting its release date.
The AMA in question can be seen here with the inquiry from a Half-Life fan and the devs' response being one of the first interactions in the thread. Someone noted that the team seemed pretty confident that they'd release the game on time and asked how much of the game had been finished. The developers responded by saying all of it was done except for adjustments being made to the final scene.
"With the exception of some tweaks to the absolute final scene, the game is done," the Half-Life: Alyx team said. "Lots of us at Valve, as well as playtesters, have played through the entire game multiple times."
The response from the devs continued to say the team is currently in the process of polishing and fixing bugs. They're right where they want to be in the development cycle and said they're confident they'll hit the intended release date.
We won't have to wait that long to see more about the game though. In the time leading up to the release of Half-Life: Alyx, the developers said they plan on sharing multiple gameplay videos that'll highlight different parts of the game, particularly the virtual reality mechanics that are at the core of the new Half-Life game.
"Yes, it's our plan to release gameplay videos in the leadup to launch," the devs continued. "Our intention is to use these to showcase not just gameplay elements, but also VR-specific elements like different movement options."
Half-Life: Alyx was first revealed by Valve late last year in a trailer that showed off the first new Half-Life game in years. Valve also announced that all of the Half-Life games are free-to-play from now until the game releases so that people can become reacquainted with Half-Life before they experience it in a totally new way through virtual reality.