How Bad is your First Draft?

I'm learning from the mistakes I made with my first novel, and there are so many!

Last time: I over-plotted by FOUR YEARS! The story began to feel weird, I spent weeks writing sheets for characters I cut from the book, edited chapters I deleted and perfected quotes I removed.

This time: I have a 500 word outline, writing 1K words everyday, filling gaps with INSERT JOURNEY HERE, THINK OF A JOKE, THIS CHARACTER SHOULD HAVE A SAD ARC -.

But the story is being written, and I should have the draft finished by January. It has more holes than swift cheese and is more crappy than cheese fed to a lactose intolerant person. I know I'll have to rewrite every word at the end, but that's the point.

How does your first draft look?