Definitely creates the sensation of being chased, which is great. I was initially confused as to what the goal was, thinking I had to go somewhere or find something, but from what I surmised, all you have to do is run in circles for as long as you can, which quickly felt repetitive. Unless there's an element I didn't get, I think the lack of depth makes it a short-lived experience.
That said, I think that with a few more very simple mechanics to add variety, this could easily become really fun.