I don't think the shit VHS looking transfer does the visuals any favors, and we're missing out on a lot of the detail as a result. That said, the sprites look a little odd, but for the most part are animated decently and don't look too bad. Not SNK level, but not bad. The backgrounds are similar, and a bit of a mixed bag.
The music is actually pretty damn impressive from a technical standpoint, even though it doesn't seem to match the theme of the game at all. Reminds me more of club music from 1992 than anything related to fantasy. Actually...come to think of it, it's more like if the people who made the music to King of Fighters 2001 actually knew what they were doing. Pretty similar style.
The voice acting and quality remind me of Breakers. Mostly decent, but uninspired and weird sounding.
The gameplay is basically Galaxy Fight with the play area being way too huge, but watching this video it looks to be a little tighter and faster.
Overall it clearly looks like a third party Neo game from that time period, and one that I would take over...say...Fight Fever any day of the week. Anyone that pays huge money for it would be out of their mind though unless it's strictly for collector value.
Some added bonuses: At around 9:50, the character Vanity's boobs bounce around so much that it makes Mai look she's rocking A cups in a steel bra by comparison. Also, around the 14:10 mark, the B. Tod character has a move that steals the lightsaber sound effect.