Interesting premise and cool technical depth, but has a few gaping holes.
Beyond that, the best thing about it is how freaking deep it is. Much like Romance of the Three Kingdoms, it just goes on and on. You can play it in so many different ways the mind boggles.
To support this, and seemingly to add some gameplay time, there's an absurd number of levels to complete here. In some circles that's a good thing. In this one, when coupled with the slow progress of the ships themselves, which means a stage can take much more time than you might want, it does make the game feel like it's holding your progress back in order to keep you playing longer. I never got to any of the really cool-looking weapons that are shown in the videos, as I didn't want to spend another 40 hours driving around and pounding more and more ships with slightly larger weapons than before just to see them.
As for presentation, I ironically find the "poor" presentation better than most. Specifically, I've never understood why game developers don't use anti-aliased text more often—there's no excuse for it. After that, it seems like the somewhat old-school style of the menu system is purely intentional.
This game also represents chaos well, which leads to its kinda low-polygon battlefield. Seeing dozens of planes (of different designs) flying around while projectiles are coming from all sides, and still being able to zoom your view into a lighthouse on the shore which is actually projecting a visible beam, even though it's a mile away, is pretty rich stuff on the whole.
Overall, I'm very glad that I rented it because of its uniqueness, and a part of me wants to pick it up again at some point.