I had quite a bit of fun playing the game for a little bit! Art is B&W and the music is pretty neat. Though controls were really weird to get used to. The idea for the mechanics were cool but its a bit much for me at least. You have to learn the controls for all three states you are in and its a little weird. Also, the movement for the ship is like a wet, slippery bar of soap for me. Its really floaty and had me getting into enemy fire alot.
Good job on a submission though! Improvements to these and other thigns mentioned in other comments, as well as adding on to and refining the mechanics would make the experience a lot more balanced and fun. Also, though I didnt play it, the multiplayer is a really rare thing to see nowadays in jams. Cool idea!