Overall, like the audio and visuals, and the execution is tight. The game feels good to control. I had a lot of fun playing, great job!
A couple suggestions: I think reducing the number of bullets on screen might be good, and rather increasing the size but keeping the hitbox fairly small. I do really like how things sync up with the music and that's how the level progression works.
Something specific to this jam is that it would be nice for the theme to play somewhat more of a central role. Perhaps a new powerup every 10 seconds, or the beat of the song speeding up every 10 seconds?