So yeah, just tried the demo. Is it supposed to be this easy? The bullet patterns are forgiving and entry-level, enemies don't seem interested in killing you, bosses are anemic, and the life bar is way generous. The Treasure influences are obvious: red/black bullets from Ikaruga, boss designs, warning screens, lifebars lifted from that and Silvergun. They just forgot to rip off the difficulty - and there's no adjustment for it. It almost makes me want my old copy of Cannon Spike back.
I suppose it could be the tutorial-level disease, and maybe I'll find the difficulty I'd like three-quarters of the way through the game. Give me a mode with three hits allowed before a game over (and fewer/no health recharges) and I'd be content.