Assuming all goes well and everything is at a level of stability that I want it, I will be releasing Alpha 3 sometime this week.
Traditionally speaking, Alpha software is pretty unstable. But I think Alpha 3 will be stable enough for websites that are smaller and aren't doing e-commerce. I have e-commerce in the works, but that's going to be worked on during the Alpha 3 period. I'm personally confident enough to use it for clients with smaller sites, and am offering a $99 deal for a 5-page site made with FearlessCMS. Visit https://fearlessgeekmedia.com if you're interested in having a website created for you.
After Alpha 3, the plan is to have beta releases, hopefully by the end of the year if not sooner. And I definitely don't think it's impossible to have it out sooner.