I'm looking at the player's ship right now and I'm thinking you based it off of those plastic disk shooters, but in this case you lost the 4 other discs in the couch and you only have one left (good times).
Anyway, this game looks really good! The music slaps, the art is great, the player and enemy designs are concise and yet still detailed, and overall this game screams polish.
But is there a tradeoff for gameplay? Well, actually, no, the gameplay of your game is really solid! The disc impacting with the enemies is quite satisfying, and I can guarantee a hit by getting close to the enemies.
The one very small gripe I have is the timer at the end of each wave. Usually, this timer exists to allow the player to upgrade their character, but here, it just kinda stalls the fun.
But even so, your game is awesome. ;)