I'll say this: it's a dollar, but a dollar often gets you the lowest tier of a bundle.
I didn't enjoy this game. I played it in co-op with a friend who I play most of my co-op games with and have good times, regardless of relative game quality, and I didn't enjoy it.
If you look at the OT for the game, you'll find a lot of people praising many aspects of the gameplay, which is a bit of a shock for me as just about everything people were praising were things I especially hated. Chief among them, and I'm somewhat of a stickler with this one, your character's movement through space.
There are a few design schools when it comes to platforming physics, but I generally reduce them down to this: S/NES-era and PS1-era. S/NES-era is best embodied by many of the best Japanese platforming games that offer tight, responsive controls. PS1-era is represented by European platformers that rely on more forgiving physics to traverse the environment, or what is often pejoratively called "floaty."
With those two on either end of the spectrum, Outland is closer to the PS1-era design philosophy. It isn't as bad as some of the worst offenders, but it lacks the responsiveness I except from my platformers.
Beyond that, I don't think the gameplay gimmick (again, often used as a pejorative, but is not my intent here) is ever really explored in a satisfying way. Once you gain your main abilities, you basically use them in exactly the same way for hours and hours.
Also, the difficulty of the game is not from challenging platforming or skilled combat, but generally recognizing enemy patterns and slowly, slowly whittling down their health. The game is a constant battle of attrition and it's design decisions often mean you'll intentionally die just to get the health boost from a checkpoint. That's just bad design.
However, my opinions are my own here and have been somewhat generalized and intensified in the months since playing it, so your mileage may vary.