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Welcome to the club.
There is a lot missing. I really don't think this software nor its instructional video series are ready for release yet.
I wrote up a 4 or 5 google document full of suggestions and emailed it to Marketo's Director of Education. I suggest you write your ideas and grievances down and share them with Marketo & the Marketo Community. I'd like to see what issues other people are having, b/c I am having TONS of issues. Tons of issues w/ the videos not being clear, concise, direct, informative. tons of issues with the software having illogical processes (example: I can delete multiple snippets, but cannot clone multiple snippets. How is this logical? Also, I can't delete a folder if it has contents... yet, I come into my office every day and don't go haywire deleting folders full of valuable contents. Are you kidding me? Marketo, I don't need parental controls, thanks!)
The University courses should help you with a lot of this intro stuff.
Honestly Marketo's docs have gotten much better the past two years. I have quite a bit of tips here:
I can do a demo for you although I'm sure your account rep should be able to do that too.
Program is a collection of flows, emails, assets that allows you to collect leads by marketing program.
A Smart Campaign is the flow that takes actions on a group of leads. You can use these separately if you want, but Programs are a better grouping method.