No, that's not the only thing wrong with it. There's a lot - the most obvious is the overcoat, which is the wrong color, the wrong shape, doesn't fit, and looks like a toy. I think the tie is another thing that a lot of people disliked. All of the other clothing is inferior in quality relative to later iterations. There are also very few accessories. It's really not much better than the Sideshow Joker.
MMS68 was one of the last figures released before Hot Toys really stepped up their game to its current level - many believe the "modern-day Hot Toys" began with the release of the first Bank Robber Joker, where their figures looked exactly like miniature versions of the characters (rather than pretty-close approximations). Before this, they were equal to or better than their competitors, but nothing compared to what they've become in the last five years.
So trust me, you don't want to get MMS68. It's a waste of money and will only lead to regret. If you want a quality Joker, like DX01, DX11, or one of the Bank Robbers, then you're going to be spending a lot of money - so you should begin to accept that, if this is what you want. An MMS68 will be almost as much money and so much worse.