(Personal admission here to reinforce your perception of me: I removed a third option - that the government has actually got no idea how to govern, and establishing endless working groups buys them time to come up with coherent policy that they will be able to deliver against. It is my personal belief that Labour never expected to win the 2017 election, and that their policies were primarily slogans and feel-good messaging that they never expected to have to implement. As such, the policies lacked the underlying research or analysis required for them to function as a cohesive framework. We are now seeing numerous examples of back-tracking, contradiction, and unforeseen consequences emerging that could reasonably be attributed to this lack of groundwork.)
Honestly I think this is largely the case; that while some slogans may have been malicious in their nature (attacking the Govt for 'inaction' on housing for instance, which is just politics, really); the reality of Labour in Govt has been relatively softly-softly and doesn't match the bellicose rhetoric of the campaign. The Working Groups may well be fait accompli on a large scale or effectively rubber-stamping bodies, but given the Govt majority that's all that was going to happen with any select committees anyway. If Labour passionately intended to be as radical as they were in the lead-up to the election, we'd have seen far more ambitious legislation being pushed through than we have so far.