The New "Tree of Life"

"A team of scientists unveiled a new tree of life on Monday, a diagram outlining the evolution of all living things. The researchers found that bacteria make up most of life’s branches. And they found that much of that diversity has been waiting in plain sight to be discovered, dwelling in river mud and meadow soils." 

I thought this article was interesting because it gave a whole new look to the world and the life it has and made me question whether or not if this would be the definite tree of life or would it again be changed tomorrow, a year later, or 100 years later. After searching about the tree of life I came across another article. 

Although the tree of life has all these branches none of us really know what the organisms on some of these branches look like. Do we really know what life is and do we really have a good understanding on life ?