This remiends me a lot of Tacoman (the Touhou fangame, not the newgrounds series) and Tempest of Hevean and Earth. The former leans more into the Mega Man side, and the latter more into the DMC type combat. It also reminds me a bit of The Kiron Quest, what with the magic.
The game obviously looks like an engine test, but the gameplay has a pretty good start. The enemies need more feedback when they're hit, and it doesn't really seem possible to do proper juggle combos at the moment. The magic also leaves a bit to be desired, but I'm assuming the stuff you acquire later will have a bit more specticle.
I can't wait to see this with assets.