Even at the title-screen, which shouldn't be that graphically intensive, but it seems to really chug GPU resources for some reason.
I turned off all the higher level graphical effects that were available in the options, but that didn't really seem to change anything (at the title screen, or in the game).
The only thing that helps is shrinking the window size to something unplayably small.
I would guess that there is some fairly expensive shader code running at all times, which older hardware can't really handle.
My GPU is an nvidia GeForce 9300M GS, which is quite old at this point, but is still an "OpenGL ES 2.0-compatible graphics card" - I think it should be able to render a game like Gearend at 60 fps, provided all the fancy graphical effects are turned off.
... Or not, but then it would probably be a good idea to expand the minimum system requirements to something higher.