Wow, this whole thing was amazing and I have a lot of thoughts on it! Even though it was super short there's a lot to praise.
First off, the soundtrack is amazing. It definitely has a distinct "underwater" sound, and the way it changes as you progress sets the tone so perfectly, and you hardly even notice the musics changed unless you're thinking about it. It feels so natural and in line with the current emotions you're feeling at the moment that it almost unnoticeable. It just heightens the sense of uncertainty and curiosity you feel without distracting from the game itself, which is what an OST in this case absolutely should do.
Second the visuals. I absolutely adore the retro/low poly style and I think it was really well utilized here. The style + the way textures were utilized at certain points is really only comparable to dreaming. Where you feel like you can't see, you can't defend yourself, you can hardly move and you're not even entirely sure what you're looking at. There's a strong sense of surrealness although the location and most of the things you see are familiar to most people, which again emphasized this "dream"-like aspect to me.
And finally, the ending was so clever I couldn't help but smile. Really great job all around!