I would echo a lot of what Olive said, the movement system is interesting but it can get pretty frustrating at times. The constant red flashing is rough on the eyes, especially when concentrating and trying to make delicate movements with the ship, which is a shame because lighting up the level like that is really cool.
I don't understand the intent with the final level. It's a bit too much, and doesn't really work well with the methodical and floaty movement. There's also a really frustrating issue where missiles sometimes just explode and kill you right after firing them because they (I'm guessing) hit the ship's collider when spawning.
It's also worth mentioning in the jam page that the WebGL version doesn't work properly (at least it didn't for me). I was unable to restart after dying, and so had to reload after each death, and couldn't even progress to the next level after completing the first.
Aside from these issues, this is a cool and striking game. It's an interesting way of implementing difficulty by relying primarily on physics and basic movement inputs.