This was fascinating. I didn't expect to be surprised by such a good use of optical illusions again, after that submission last year, but here I am again saying "Wow". The use of colors really gives the impression that there is more than what you are actually seeing, similar to what happens with RGB monitors.
This reminds me that I didn't really like the "Blood Tide" color palette at first (apart from its peculiar name and its red tones that are stronger than they should be), but pixel art like this made me appreciate having chosen that palette even more.
Reading the information on this page, I remembered an interesting fact about the Game Boy. The Game Boy was one of the few video games at the time to have games transmitted to an LCD screen. Since almost everyone who had a TV at home at the time had a CRT, this meant that the developers designed the art style for such a screen, and not for LCD or OLED monitors like we have now. This made effects like Dithering common, since the PPU of an analog video game signal favored this type of image, so pixel art was not intended to be "square".
For the Game Boy this was different, mainly due to the cost of small LCD screens compared to CRT. However, with the launch of the Super Game Boy, compatible games would have to be designed for both screens.
I think it is up to each developer to highlight what sparks their interest the most. But this makes me wonder what other unexplored effects other types of screens have.
Anyway, good job, I loved this pixel art!