I don't think this is unfinished at all. The blue enamel would be unnecessary as the letters are not voided, so wouldn't have been visible. I have attached some images of the centres of CG WO badges and the lettering on the voided examples is totally different, reaching to the edges of the garter to enable to voiding to be done. The solid example has small, neat lettering which is separated from the edges of the garter so in my opinion, there was never any intention for this to be voided.
Cheers,
Alex
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