With some fine tuning that might be quite good.
Now the game gets too hectic quite quickly, so that it's hard to say what is happening. Maybe try slowing down the game and increasing the number of enemies more slowly. This game definitely needs some sounds. Use less motion blur with discretion. Maybe motion blur could be relative to how much damage your ship has, together with warning sounds and other effects when the ship is at its limits. How would collision detection be, so that you can't move through enemies or other obstacles? When the gameplay is better, add more levels, maybe also make it side-scrolling with some environment and waves of enemies.
