Oh my god, I love it.
As a shoot-em-up, I did not feel threatened at any point.
What happened instead is I drifted into a Zen-state of floating through bullets, enjoying all the very balanced and satisfying effects, that eventually culminated in, upon receiving the spastic rainbow death bubbles, a power fantasy of sudsiness in which I felt I could scrub the very fabric of space and time clean.
So, pretty good xD.