I really like the song, the way it builds makes me want to go deeper.
I also like the bubble sound effects.
One thing I found is that I was running out of water in situations where I was totally surrounded by goo and enemies. Maybe if there was a dodge or parry mechanic you could fallback to when you are totally out of water. But maybe I just need to get gud haha.
I had fun playing this, I may come back to this tomorrow when I am more awake.