You're right, in the sense that there's nothing here about how to generate accurate representations of the world. According to A.2, the user provides the representations. But even if the program is just a numerical optimizer, it's a powerful one, because it's supposed to be able to optimize an arbitrary function (arbitrary network of nodes, as represented in the script).
So it's as if the unfinished AI project already has the part of the code that will do the heavy lifting when problems are solved, and what remains to be done - which is still both important and difficult - is everything that involves transmitting intentions correctly to this AI core, and ensuring that all that raw power isn't used in the service of the wrong goals.
Supposing you have been recruited to be the main developer on an AI project. The previous developer died in a car crash and left behind an unfinished AI. It consists of:
A. A thoroughly documented scripting language specification that appears to be capable of representing any real-life program as a network diagram so long as you can provide the following:
A.1. A node within the network whose value you want to maximize or minimize.
A.2. Conversion modules that transform data about the real-world phenomena your network represents into a form that the program can read.
B. Source code from which a program can be compiled that will read scripts in the above language. The program outputs a set of values for each node that will optimize the output (you can optionally specify which nodes can and cannot be directly altered, and the granularity with which they can be altered).
It gives remarkably accurate answers for well-formulated questions. Where there is a theoretical limit to the accuracy of an answer to a particular type of question, its answer usually comes close to that limit, plus or minus some tiny rounding error.
Given that, what is the minimum set of additional features you believe would absolutely have to be implemented before this program can be enlisted to save the world and make everyone live happily forever? Try to be as specific as possible.