Ok, first and foremost, for the love of God, MAKE. THE. BULLETS. DISTINGUISHABLE.
Seriously, one of the last things you want your player to do is to wonder whether the thing they're flying into is a collectible or a bullet that's about to wreck them. There's not a single reason you should do that, unless you want to make the game annoying on purpose.
The art itself is quite nice though, low-res but that's what you'd expect.
The music quickly gets on your nerves, so I'd appreciate it if it was more of a background tune, especially given how it repeats over and over and over without too much variety.
Now, the gameplay. This is where the game lacks the most - this thing simply isn't fun to play. The stages themselves feel like typical grinding for exp - you do it because you have to, not because it's fun. It doesn't require much effort, and gathering the cores like that quickly gets very boring.
Regarding the first stage boss - his second phase is absolutely horrible. While the spiral looks dangerous, every "wave" hits precisely the same positions, so all you have to do is position yourself in a blind spot and hold "z" until dude drops to 0 HP. It's the same as if you had just put some random lasers on both sides, and put the guy just there, doing nothing, waiting to get killed, except here you try to make an illusion that something is happening. The only thing you achieve is making the player annoyed by both boring the person who already knows the pattern, and annoying the person who doesn't and might get hit for no real reason other than the design being bad. Please, don't do that.
Stage 2 boss was somehow even worse... Its third stage was alright, the bullets explode in different positions, so it's at least a bit less annoying than the other two, but it's still just.... fine? For the most part, you made it just as an big pool of hitpoints that the player has to get through, a little at a time (as far as I understood though, you wouldn't even have to shoot them? The actual HP bar never went down). The only thing the first two phases do is slow your progress. They don't pose any real threat to you, they ONLY slow your down. Again, don't do that.
Overall, the game simply isn't fun to play. I didn't play past second stage because it's just draining.
PS: I rate things harshly, so don't take this as hate or something.
EDIT: the bullets actually do have a similar colour to the cores, they should contrast stronger than that. And regarding the music, the melody of the tune is, let's say, "sharp" to the ear. The high pitch paired up with very regular time interval between notes quickly tires the listener out. I understand the limitations of the engine, but take a look for example at VVVVVV's soundtrack. While the music there clearly can be better due to the lack of limitations, even short parts of it have a lot of personality and are nice to the ear.