The loop is an interesting concept and works well, the balancing of the spells is just way off. Maybe its just me but the fact that nothing has an AoE, even a small one, except the ground slam, means that anything that isnt either the arcane bolt nuking a single target or the ground slam stacking damage on every enemy on screen is practically useless and just makes your loop longer. Also, from what i can tell there are only two enemy types and the best way to deal with all of them is to walk around them in a loop (get it) until they coalesce in the middle. Once they're there you're safe so long as you keep moving, the only way for you to realistically die is at the start where its still chaotic.