The levels are all out there (it looks like 2, but really it's 5 (two of which you won't notice, it's just to stop people from getting mass quantities of bolts)
The excitement doesn't have to end though, there are pleanty of really awesome Ratchet & Clank creators and levels out there, you just gotta dig deep enough. Ever seen the stuff attacker444 does? Real pro that guy!
This level will be finished when LBP3 is stable enough to create with.