Really great work on this so far! At first I found the controls could use a reverse thrust, but quickly found that that would actually remove some of the fun, because getting the hang of steering the ships and landing precision shots (like with the sniper or crossbow) feels very satisfying. Needing to constantly correct the orientation using only forward thrust and steering adds to the chaos also :D
The audio (love the music) and visuals are top notch, as expected, and the physics and particles are very satisfying and the weapons feel punchy.
I didn't come across any major bugs or issues. Just two small things maybe worth mentioning:
1) the door buttons in the first level are maybe a bit too sensitive. They get triggered by the slightest touch so you can end up opening or closing the door by mistake quite easliy. This may be intentional though, so if that's the case ignore this point haha.
2) The end game screen showed the wrong winner for me as seen in the screenshot below:
Ps, I loved the little details in the arenas like the soccer match and resort. Felt kinda bad for blowing up the soccer players though lol