It sure does follow the formula. If you've played any of these, you've already played this one, basically.
Timed rounds, shoot moving things that spawn from the edges of the screen, they shoot secondary projectiles, combos give better score, but they're random, as the secondary projectiles shoot and random directions. Then rounds ends, spend points on upgrade, repeat. This one is quite formulaic.
I don't have a problem with these game jam games being on the site, but I do have a problem with them getting ratings like this, overwhelmingly positive, treating them like they're more than they are.
It's slow at the start, has a middle bit that's kinda nice, and then suddenly ramps up so hard you're buying all 10 or more level of an upgrade from a single run, it's one of these. It's a prototype I've played many times with different skins. It's a solid 2/5, not irredeemable, not great. I've got no problem with anyone liking it, but lets be honest, these reviews are a bit inflated for what it is. It even has the problem where a certain upgrade acts as a downgrade if you buy too much of it, that's a problem I've seen surprisingly often in these types of games. (It's neutron speed, fair warning, when it's high enough it insta-clears the whole screen, and then you have to use your limited shots to restart the combo, it makes you combo less. It gets less bad with more upgrades, but there is a period where more levels of it become a downgrade, even if temporarily, still not a good feeling.)
Finished it in 12 minutes 31 seconds, according to the end screen, still had to buy around 1/3 of the upgrades or so. It's a basic "You won" type endscreen with a timer, nothing to see there.