It's absolutely not ready to be released, but what there is right now shows great promise. The devs promise a story mode in the near future but, right now, the game is very content-light (although with a remarkably high number of custom levels on the Steam workshop). But yeah it's looks awesome, plays pretty well, and the levels that are there work with the music beautifully.
It would be nice if checkpoints tended to be /after/ long downtime segments rather than before, so you don't have to keep replaying them; the game is very trial-and-error in some of the more fast-paced portions, so you will die a lot while learning the patterns. I noticed a few glitches here and there as well; mostly graphical, but I had a couple of instances of the wrong level loading completely. I do hope that work is continuing on this, because with some more content and those small issues ironed out, this is something I could really get into. In the state it's in right now though, I can't give it a higher grade than this.
It would be nice if checkpoints tended to be /after/ long downtime segments rather than before, so you don't have to keep replaying them; the game is very trial-and-error in some of the more fast-paced portions, so you will die a lot while learning the patterns. I noticed a few glitches here and there as well; mostly graphical, but I had a couple of instances of the wrong level loading completely. I do hope that work is continuing on this, because with some more content and those small issues ironed out, this is something I could really get into. In the state it's in right now though, I can't give it a higher grade than this.