I'm malking a rougelike and just realized that it might not count. My color palette has 2 colors, 1-bit art and retro music. Does my game count?
An arcade game is usually one that is designed like one meant for arcades - Simple controls, short session length/levels, dense gameplay, a focus on personal progression through high scores or competitive play, easy to learn but hard to master gameplay, etc. So yes, a rogue-like can count, but won't necessarily.
Additionally, artstyle is not particularly relevant, for the most part.
But ultimately, I'd recommend making sure that your game is polished enough to stand on it's own before adding it to bundles, especially considering that you are still working on it right now.