It is a shame, that this promising game has this severe bugs. It is not even the lack of texture, that kills the experience, but a FOV, you cant play for a long time without feeling sick. Hope you would fix those bugs, without losing sleep, I myself had sacrificed 4 hours of sleep to finish still raw game and this was painful enough, you still got a lot of time!
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To be fair, some people updates their games after deadline, I saw it in a submission feed, guess you could also update yours since it is just to make a game at least playable. But in case, I am a newbie to game jams, so I don't really understand rules entirely, so I guess, it is up to you to decide
Ok, I actually searched about this problem https://itch.io/jam/lowrezjam2016/topic/20616/can-we-update-our-games-later-post...
Here are no specific rules about post-game jam updates, so the answer from there could be applied here also. In short, you can update post game jam. Though I would add, to keep the spirit of game jam, I wouldn't recommend adding new features/levels and so on.