Apologies if this is the wrong exchange forum, it felt most appropriate to ask this here.
TL;DR What are the pros/cons of a (mobile) app (in the social media space) being launched on-time with an average look and feel versus being delayed (e.g. a month) to look very attractive and be pleasing to use?
Context to the question: I am taking over an application developed over the past 1.5 years. I recreated it in the past 2 months and am close to having a minimum-viable product ready. The project owner/primary stakeholder is interested in launching ASAP to get into the social media space.
The primary stakeholder is please with the design. I feel it is pretty average but it does the job. I am strongly considering entering into discussions to delay for a redesign with the aim of making the app beautiful rather than functional per se.
Regarding cost for a delayed launch: financially not a big deal but competitors are starting to pop up which will hurt business in the future i.e. future costs.
Question: What are the pros/cons, regarding 'early launch and fix everything in version 2' or 'get it right the first time round'?