Johan has already said that HoI4 will be released 'somtime this year', no way this game will run on any longer than strictly necessary. We have seen it working very well with two major countries and with what looks like all the necessary elements in place, so it will be a few more months is all. If they have submitted a Beta and it was rejected then obviously the team genuinely thought it was about ready for Beta, but perhaps it was just a bit too buggy and the AI wasnt good enough. Which means that its getting pretty close to Beta and once we get there is just tinkering and assets over hopefully a public beta phase - when we can all pre-order and contribute to the AI testing phase!
Paradox don't really do public betas, which probably is a good thing.
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