Sounds like a demo to me. A produced version would have deeper, more intricate music, the vocals would sound clearer and the song would overall be a lot less simple or face value. It's reminiscent of a full song that's acoustic imo.
I know people don't really believe this is a demo as it sounds so much more finished compared to the WTWGM one but if you listen to the Rabbit Heart demo (An Offering) from the 4-disc set of Lungs it also sounds almost as if it is finished too. Also Landscape and WTWGM had different writers and producers.