Don't hate your ship!
It has a good feeling.
Comes off as very gamey.

Def try some slight tweaks, some major changes, and a complete redraft. --> all as different sprites, don't overwrite this one
Explore a little if this is the only design you've made.
I'm also working on a shooter with stylized player ships.
Some of them look really fucking weird.
"Weirdness" has value, but can sometimes be hard to wrap you head around if you haven't given it a definition.
The process that helped me was designing them with a specific feeling as a goal.
Even just "I'm the player ship" is totally valid and can work.
However the more you can refine that thought, the more you can integrate it into your design, and other people will be more likely to pick up on the feeling.
The feeling you choose might be strong, but only show subtly, and then lost on the viewer as an easy to describe single word.
But it will still help through the design process.
What do you want your ship to say to the player?
Also just to be super clear, I don't want to give you the impression that bold saturated colors are bad.
Cuz they aren't, they have they're own strengths.
If you really want to have the feel of intense vibrancy, you can totally make it work.
But you'll need to work with it in a different manner to make your image readable.