Technically, this is interesting. The way the "web cords" (I don't know how they're called) behave when they're cut is something that could apply to other things like bridges or curtains.
But I didn't understand what to do at the beginning. I thought I had to go past the spider in the first scene, but I kept on dying, do I didn't really know what to do. A dialogue box when the "bug" is saved (I mistook it with a baby spider, so I tried to cut it) would have helped : "Thanks for having saved me. Please take me out of here !" The spider could also follow the player when the bug is freed.
Your submission is good as a technical demo, but not as a game. But I'm sure you'll be able to implement this in a later project.
EDIT : I understand this is your first jam, as for me. This is a lot of work and you tried to focus on making the technical things run correctly. Do keep in mind what you learnt, it will be useful in the future, I'm sure of it.