not much product gas formed?
It can be a gas, possibly, but it's not specified.
The answer is right. A little equilibrium constant means that you don't have much product.
But this is a thermodynamic information. Thermodynamics tells you nothing about "time".
You don't know after how much time the system is at equilibrium.
Now, if you want to use the little product that you made, you have to wait the equilibrium but knowing the K won't help you because it doesn't say when it is reached.
If you want to use more product, you can wait the equilibrium (it could be 10 minutes or 10 hours or 10 seconds) but you'll still get just a little of your product.
So you have to do something else to change it.