What we're expecting is quite different than what we want, to start with. So, based on their previous "major" patch that was a more-or-less complete letdownm but that they bragged about in roughly the same fashion they did with the game itself up to the launch month...
We can't expect them to bring back cut content. Some of it got replaced with cheap alternatives - like the way hacking works, compared to how it used to in the presentations or the fast travel hubs that make up (in someone's cooked mind) for the missing 3 cab companies and the monorail, asoasf.
We can't expect them to fix exploits, because that would make a lot of trash systems feel even trashiers. We'll notice how poor the economy's designed, how punishing the loot is, how crafting's actually atrocious, now the perk trees are definitely patchwork to have something barely functioning at game launch.
They can't fix all the bugs. They're just too many of them. Add to that the fact they didn't have time to properly test even the fixes they announced in 1.11 or the new game-breaking bugs they successfully introduced with it. They can... maybe fix some of the quest problems. But all the bugs? Definitely not.
They can't risk letting the modders fix stuff. It will ruin their artistic vision of a bland looter-shooter-like game in a wonderful world that the player can't be a part of. Or it will lead to mods that they have to ban after
So the smallest effort that could be successful would be making the npcs smarter. Seeing how they're dumb as a shoe to start with, it can't be too hard... Buuuut! Making them react realistically to your actions is asking too much, I think, just like thinking they'll make the environment destructible like promised or, at least, react to your actions in a logical, natural fashion. Hell! Even TW3 had some water effects, to start with. Meh!
What I would want is for them to polish the systems and the animations maybe. Like maybe ensure your character has a normal shadow at all times and that it ain't of a skinhead... or teach V how to sleep (small things, but so many of them are so dumb that it just wrecks any immersion for me). Or something to prepare the road to introducing proper crafting, proper skill perks, missing stuff like monowire hacking, gangs and trauma team interaction. Have shops sell what they brag to, add a reason to stack tons of food and beverages...
Cut content can be served as "Free DLC"... Idgaf now, as they already properly and thoroughly set themselves on the path of renown AAA publishers of revolutionary half-baked games...