Beautiful, but just too janky. I get that the game wants to encourage you to move with the lance, but the tight spaces plus the magic arrows makes that basically impossible. I think the magic arrows were maybe just one too many things. In such a short timeframe, it's hard to get so many elements working properly.
If this was expanded in the future, I'd suggest it go one of two directions.
1. It could focus in on the magic arrows. The player would dash to move and attack, but always need to fear the arrows as they did. This would require a big, open arena for the player to move around in. Like a bullet hell of your own making!
2. It could drop the magic arrows and go all in on "tied to your lance." Maybe the lance could fire first, without the player moving immediately, and a few seconds later you'd be pulled to the lance's landing spot grappling hook style. Enemies could try to get between you and the lance in order to damage you, and you'd have to fire strategically.