Its an overhyped Indie game (I dont mean to be...mean actually, but its kinda hard to live up to the hype of these games prelaunch) thats been buzzing around the scene for ages, kinda like Monaco was. I just bought it, so my 2 cents:
The combat isnt terribly deep, but incredibly well balanced with one or the other interesting trickery like the ones Cheesecake just described. In fact, its rather simple actually, but the combat still works because of how those simple actions relate to each other and how fun it ends up being if you try to outwit your enemies and then end up thinking one step to much and end up running into your enemies blade.
Its really a quite hilarious coop game, local coop especially, but the actual game content is rather poor. There are 4 different arenas that you can play MP or SP in, but there is not really much more to it. If you kill the other guy a few times in a row, you manage to escape and win. What they tried to achieve here, works incredibly well, meaning its a fun MP game with a gameplay mechanic that is as simple, as it allows for wit and trickery.
Mechanically, this game works incredibly well and deserves the praise it gets for its gameplay design alone. However, content wise, this game is so bare bones, that I'd probably recommend waiting for the inevitable $5 sale if you arent big into simple MP matches. (Or you are having a house party soon like I am having.) Personally, I think its a little overpriced, but you can get away with that if you are x times IGF winners I guess

But yeah, in the end its all about exposure, plenty of other Indies in these threads that I considered better games that got less attention, not much you can do about that. Its the AAA industry marketing equivalent.