After playing this game on and off for a couple of months I'm gonna shelve it for now. I've 1cc'd the first loop just fine, which would usually be enough reason for me to mark it as completed, but in my some 15 hours of playing there is much more I have yet to explore, and I've barely even touched the second loop.
Mainly this is because the game itself seems to be in an unfinished state. Besides the occasional bugs, this is primarily indicated by the number of achievements that are currently impossible to obtain, including one that corresponds to an additional difficulty level.
You can tell this game is a labor of love from the moment you start playing, from the fully voiced(!) cast of characters, to the vibrant art, and the complex worldbuilding (some of which is lost in the English translation, perhaps a phenomenon not unusual to shmups). I have my own nitpicks about the gameplay, but at its core it's fun.
Varstray on its own currently stands as a pretty solid game. With a little more polish, I think it would be outstanding.