After editing 14 chapters/106k words over the past 8 months, I have come up with the following terms to describe what stage my draft is in at any given time:
Filler -- I know this scene needs to happen, but this blobby mess is not what it's supposed to look like
Vibes -- The blobby mess has gained some colors and contours. I have a throughline to pursue during subsequent rewrites
Editable -- No longer blobby! The conversations might be a bit meandering still or there's narration missing to control the pace, but otherwise the scene fits my intended purpose.
Readable -- I'm no longer horrified at the idea of a trusted beta reader viewing it
Polished and Ready to Post -- the final draft \0/