Personally, I didn't release my dream address until I was completely done and satisfied with my island; I just felt more comfortable having a 'full product' for people to look at.
With that said, I did make some changes later on, which was to be expected. But I think it's good to have a 'base model' for your island that you more or less are going to stick with in the long run; the only reason I made changes to it is because I got bored and felt inspired to implement something new for a change.
So, technically, your island can/will always be a work-in-progress or a draft. But that's just my experience and preference. Do as you please!
I don't have a DA yet because there's really not much to do on my island currently until I have it finished.
None of my IRL friends have seen my island because I want it finished lol. I was planning on having a party on my island for my IRL's to come over and do a treasure hunt, but I'm holding off on finishing my island until I see what's coming in the update.
I wouldn't say it has to be "perfect" since everyone's idea of what's perfect is personal and subjective. Even if a person's island isn't "perfect" by any means, they can still upload their dream address if they want to. There is no right or wrong.
i definitely prefer to have my island 100% complete before uploading a dream address, and have been that way since new leaf — hence why i never had a dream address in new leaf LOL.
however, if you want to upload a dream address, i say go for it! your island sounds lovely, and 92% complete is definitely something to be proud of and to show off!
I just upload whenever I feel like it and update every time I finish a new area. My island will probably never be 100% complete because I'll always find something to change with every season.
I am never going to be "done", so no. I do wait until I have enough to make it fun (I hope) for people to go around, but it isn't a showpiece island. I've ultimately designed it to be something I enjoy interacting with every day.
For people who complain that dreams aren't finished enough or interesting enough, they don't have to dream mine again.
My island will probably never be done.
Mainly because I'm too lazy to decorate the fronts of every villagers houses to look fitting to them.
But I do think dream addresses should only be uploaded when you have something you can actually call an island.
If 90% of your island isn't decorated at all, then I don't think it should be uploaded. At least with the settings on so that it can be randomly found.
No one wants to dream and end up on a completely barren wasteland.
But if you've got a good skeleton for your island sorted, like paths and some items that while not meant to stay forever, make the place look somewhat touched. Then I think those dreams are fine to go visit.