I like the whole concept (especially the prioritizing concept)! Would be really great to see this expanded on.
I like the designs of the bosses (especially the final boss) and would love to see how everything would have looked if you guys had more time!
My only notes I can think of that haven't been said is diverting everything to speed doesn't really feel like it does anything, as well for the weapons I found it difficult to determine how close to the enemy I would have to be for the chain-guns to deal damage, and where I would have to aim to have my shots hit.
Great entry! Well done!