This is a pretty fun little game with some neat ideas. I had a fun time figuring it out and beating it. You know a game like this is doing something right when you go "Yes!" after beating the final level, which requires using all of the abilities gained and patterns recognized to that point. The fact that the bullets use the same color scheme as the ground makes dodging bullets quite difficult on the first level but you get used to it. Bullets only seem to travel along the y-axis and I did not encounter any enemies that used patterns where bullets had x-axis velocity. This actually has important consequences for the gameplay, as there are never any diagonally-moving bullets. There are parts of the game where you simply won't be able to dodge all the bullets moving at you head-on and you will need to use cloaking (especially if you have not fully upgraded your speed). The player hitbox is not forgiving in this Shmup.
The final level is pretty good. It is one of those levels that seems really unfair until you stumble upon the right approach, and victory was highly rewarding. The progression system is imaginative and actually keeps the game quite fresh. Despite being only 3 short levels, if you go back to level 1 with no upgrades after beating level 3 with all the upgrades then it feels like a totally different game and your reflexes need to re-adjust (non-upgraded speed is too slow to dodge many things that seem like they should be able to be dodged, while fully upgraded speed runs circles around the enemies). The idea of allowing you to buy upgrades when you lose a level is a very nice touch that I think worked out great for the difficulty curve. I would be really impressed with anyone who beats the 3rd level without any upgrades! Also, enemies seem to be somewhat procedural, as they do not always appear in the same order or in the same place. This is definitely a little game worth beating more than once.
The cut-scenes and exposition are pretty good, and there's even a twist! The music is pretty good and feels exactly right for the style and the kind of game it is. Throughout, there is a sense of style and humor that is endearing. There are some easter eggs in the menus, and the title screen's ever-changing shenanigans made me smile. Although the plot was sparse, it was also engaging. I found myself genuinely wanting to find out what was going on as I pushed forward.
Conclusion: As is the case with many jam games, this is one where I enjoyed it and wish there was more of it. The mechanics beg to be fleshed out further, and the world-building also begs to be fleshed out further. I'll definitely come back and play this again from time to time, and I'm glad the developer took the time to make this little gem.