I was a bit skeptical of the ability to clear axes before playing but once playing it was never really needed, though the axes slowing you down didn't really impact gameplay for me too much.  When I had 2 it was pretty slow but generally when I had 2 I just had them bouncing around the room.  Otherwise some specific points tho:

• The UI.  You've said below you'll upload a fixed version after the jam, but currently it just really hurts gameplay.  Since you can't see the player in half the rooms and you can't seem enemies either it makes it way more difficult to actually play.  The mechanics had me interested, and the UI had me annoyed.
• The slowdown doesn't particularly contribute to gameplay.  Since generally you just have your axes bouncing around the screen.  Maybe if they had some sort of durability to them?  To discourage endlessly bouncing them?  As well as maybe enemies that need to be hit from the side or back to encourage the bouncing.  So you have a trade of bouncing vs durability and still having axes.
• Enemies, specifically the ranged ones feel incredibly powerful, their fire rate the way they move and especially the size of their bullets.  You essentially have to use cover, the little bit you get, in the level to avoid dying.

Other than that the concept has me interested moreso after seeing the base game loop, and the visuals definitely have a style to them.  Though the fact that dying doesn't fully reset the game (which I assume is a bug) definitely makes it a bit annoying in some ways and easier in others.

This one had petential but the half screen bug ruined it.

I see you wrote an NES style game. You may check out my game, as it is a real Mega Drive / Genesis game ;)

Tried to play it but having UI issues, I'm sorry! Music is genuinely good though,  just sat and listened for a bit. Reflected on my life. It was nice.

Hey! this was really cool! The screen cut half of the game off though. The art and music were sick! well done! The axe mechanic is also nicely done!