I'm sorry that it took a while to respond to your feedback, but still, I appreciate your thoughts very much!
Also glad to know your thoughts regarding the pixel art! I was really focused on that part so it did consumed a lot of time (instead of balancing all the aspects).
Regarding your thoughts on the mechanics, I applied your suggestions on the forms' usage within the entire area and the gained time for the timer itself. Now, by getting souls you can only get 0-2 seconds, and thereby, there are times wherein time is not guaranteed to be extended, and the forms are now relevant in respect to the new level layout; I added a tight area in which only the chibi form can traverse in whilst there are high platforms in which only the dekai form can reach. Although, I haven't added other types of enemies yet, so the variety of bullets won't be emphasized with their differences and usage.
There are fixes based on other feedback as well.
As for the execution, I highly agree, and even with the small patch that includes the fixes from the aforementioned, I believe that it still lacks the execution; I'll take my time on building on what I've envisioned for the game.
Overall, thank you very much for the feedback!