Minecraft is ten years old...a decade...this game is four months old.

Of course there will be issues, its early access. Now before people start labelling me as a fanboy, understand this; I'm a harsh critic when it comes to games. But compared to other early access games, this game is a gem. The game has more content at release than any other ea.

"There's an issue with having to punch or shoot a rock for 3 hours before being able to fight the troll you can't run away from..."

No idea what this means. I hardly punch anything, I use tools and I certainly don't shoot at rocks? And I can run away from trolls..
You may need to clarify what you mean.

"This is a "Flash in the pan" scenario."
flash in the pan

a thing or person whose sudden but brief success is not repeated or repeatable.

Are you talking about the game or your character? I say no to both either way. Your character progresses by getting the best gear possible before taking on the boss in the next region, rinse and repeat. As for the game, its four months man; give the developers a chance. They have a road map and have done regular bug updates, I'm looking forward to the next content update.