So... is Refrain Blue finished or not?
NO, it is not finished.
Why?
MangaUpdates contains information about the anime adaptation and indicates that it is incomplete.
Watching Order (by release date)
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Synopsis
Refrain Blue centers around a summer beach trip where two individuals, Matsunaga Yoshihiro and Morisawa Nao, grapple with profound grief.
Nao, a high school student, is haunted by the loss of her fiancé, who died in a tragic accident a year prior. Yoshihiro, a chaperone on the trip, harbors his own hidden pain from the past.
Their paths intersect as they navigate their sorrow and begin to connect with one another.
Adding an element of mystique, a peculiar girl known as the "Umi Warabe" seems to observe them, appearing at critical junctures.
The anime subtly suggests that this enigmatic girl might hold the key to their healing and eventual acceptance of their losses, without explicitly revealing her true nature or the specifics of Yoshihiro's past.