Yes. This demo effectively covers Chapters 3 and 4 (though it doesn't display the title card for 4 in this build.)
I don't want to give away TOO much but the first 2 chapters are a bit of a genre shift to the rest of the game and don't feature much of the mechanics. I probably will not include them in the demo until much closer to the games full release. Don't want people to have too much time to figure out all the twists they set up early!