I think of it as a kind of sketch. I was doing a few things at once here: getting a general idea of size, and experimenting with which increases would best match which decreases in appearance, and trying out a couple of different edgings. Now I should probably throw it in the washer and dryer (it's superwash wool) to see how that affects things.
Where is it all headed? Might lead to a kind of hat, might not.