Mmm, I'm puzzled. On the one hand, I really like the idea of not dying. It allows the game to be difficult, without being too punitive. That's super cool! But on the other hand… Most of the game becomes about waiting.
It's not only because of the core idea I think. The game is also a bit long, and the third level feels redundant (despite having a great music). But during this one, the game felt just repetitive, shooting without real care, controling the ghost hastly… I knew that killing any ennemy was just a matter of time, so I just stopped putting efforts.
But I'm pretty sure there could be way to improve that. Providing an incentive to dodge bullets, giving more options to the players on how to attack ennemies, making the ghost more fun to control (as it is, it's also about waiting the arrow to be in the right direction), more various ennemies… There are tons of possibilities.
This is why I still think it's a really good concept. A jam is a jam, and currently it still needs a bit of work. But the core idea has some potential. Well done!