On my ps3 it shows everything - all the unavailable titles, all the available ones too. Then again, ive noticed talking to other people that what shows up on the ps3 can often be different depending on your location/version. Netflix for instance, despite numerous updates, has never fully materialised on my ps3.
My point about the forums/lists/encyclopedia element is that it's insane to give that stuff away for free. Perhaps i'm somewhat alone on this one, but i'd happily pay for access to Mubi as a film database, and from showing it to ex-film grads, they all seem to agree that that's the main selling point of the site too.
Either way, the upshot is - like all of these streaming sites cropping up atm - there's just not enough content on there yet. I'll probably sign back up in a year's time once they've sorted out some top-tile licensing deals.