The retro era this actually most specifically reminds me of is early 2000s Flash games, which was a huge part of my gaming upbringing haha. The SFX are way too loud/repetitive, the art is unfortunately blurry rather than pixel-sharp. Controls are responsive which is nice. A simple thing that would probably increase the polish level would be scrolling the background vertically to give the illusion of flying rather than hovering.
All in all it could be improved but it's definitely a playable arcade-style game!