I like the main mechanic honestly, but the problem is really the amount of content. There was like 4 weapons in the game, which made it repetitive fast, and you end up with a bunch of the same weapons, which has no point (well, on the swords, but that's beside the point). The mechanic is smart, just doesn't work with so little content.
To answer your questions, when I say luck based, I mean that you surviving depends only with the red potions dropping or not.
I agree with Bitron that this could be pretty good as a mobile game, but only if it has a lot of content, because your mechanic only allows that