It sounds like there's some terminology confusion here. When $\mathcal{L}$ is a logic and $\mathcal{A}$ is a structure, "The $\mathcal{L}$-theory of $\mathcal{A}$" refers to the set $$\{\varphi\in\mathrm{Sent}_\mathcal{L}:\mathcal{A}\models_\mathcal{L}\varphi\}.$$
It sounds like you may mean something other than this, but it's not clear what you have in mind; for now I'll answer the question using this standard interpretation, but I'm happy to edit as the question is clarified.
Below I'll write "$Th_1(\mathcal{A})$" and "$Th_2(\mathcal{A})$" for the first- and second-order theories of a structure $\mathcal{A}$, respectively, and I'll let $\mathcal{R}$ denote the field of reals and $\mathcal{N}$ the semiring of natural numbers.
By definition, $Th_1(\mathcal{A})$ is always complete since for every sentence $\varphi$ we have either $\mathcal{A}\models\varphi$ or $\mathcal{A}\models\neg\varphi$. So it's not completeness that makes $Th_1(\mathcal{R})$ weak. We have to distinguish between $Th_1(\mathcal{R})$, which is prima facie complete but not obviously low-complexity, and the theory $\mathsf{RCF}$ which is prima facie low-complexity but is not obviously complete; of course, the theorem is that $Th_1(\mathcal{R})=\mathsf{RCF}$.
The same automatic completeness holds for $Th_2(\mathcal{A})$, or indeed $Th_\mathcal{L}(\mathcal{A})$ for any logic $\mathcal{L}$ which contains negation (if we omit negation a lot of things get much more complicated, see e.g. Shelah/Vaananen, Positive Logics).
OK, so how complicated is $Th_2(\mathcal{R})$? Well, as James said, it's extremely complicated even if we only use the "monadic" (= quantifying over only sets, as opposed to relations) version of SOL. In particular, the naturals are second-order definable in $\mathcal{R}$ since $r$ is a natural number iff for every set $X$, if $0\in X$ and $s\in X\implies s+1\in X$ then $r\in X$. So this makes $Th_2(\mathcal{R})$ at least as complicated as $Th_2(\mathcal{N})$, let alone $Th_1(\mathcal{N})$, which is itself massively more complicated than $\mathsf{PA}$.
However, even this is barely scratching the surface: $Th_2(\mathcal{R})$ tells us lots of things which even $Th_2(\mathcal{N})$ doesn't, such as whether or not the continuum hypothesis holds (it follows from sufficient large cardinals that $Th_2(\mathcal{N})$ can't be changed by forcing).