I really like some of the aesthetic choices here. Enemy models and movements, the menu navigation camera focus and the aesthetic of the hub area in general, all were cool. The colors are definitely "hot". The gameplay loop is actually pretty fun, the main challenge of course being the controls - I definitely found them a little weird, I walked off the edge first-thing (and so did an enemy :D) and gradually found my bearings over a few minutes. Also, I noticed all of the SFX were bitcrushed - I agree that some more/more-matched sound design would add a lot to the game feel. The opener piano jingle + SFX stab as the game loads was really good, imo.
I noticed the mouse cursor position and the aim of the ranged weapon don't appear to be totally aligned - I had to aim above targets to hit them, but I'm aware dialing in player character aim vs. mouse placement is usually a lot less clear than it seems. I'm also not sure if I was receiving upgrades, or if I needed to select them, somehow.... I didn't find a way to interact with the upgrade icons/the monitors, or anything nearby except for "Next-->", so I hope I was doing that correctly? Lastly, the UI does feel like it's blocking the upper-right of the player FOV.
Random note, I think if the player has 2 instances of the game open, the death screen is blank, so alt+F4ing was the only way to retry (until I realized I had an instance open already).
All in all, I think this is a good entry - not even taking into consideration this is the first game jam for both of you. Congratulations! The animations, modelling and overall stylistic choices I think reflect very positively on you. Looking forward to seeing more!