For a game with 'permadeath' to be tolerable, even enjoyable, there are three conditions that must be met, in my opinion:
1) Each playthrough must have the potential to be a unique experience.
On this point the game only partially succeeds. There is some small variation in level order, with each level made up of a series of several distinct rooms or 'chambers', which are again randomly selected from a pool. However, many of these rooms are similar and it will not take you long to become familiar with all of them.
2) The game must be relatively short
I've reached the 5th level so far and, although this may be close to the end for all I know, it is still too far in to feel entirely happy about starting again from the beginning.
3) The difficulty must be reasonable and consistent throughout.
Now here is where the game utterly FAILS. For most of any particular playthrough of TOG, the difficulty is ridiculously easy. All you have to do is make sure you keep moving while keeping your finger on the fire button. Most of the 'enemies' in the game are in fact static turrets, that fire a bazillion intimidating-looking missiles in your direction, but at an unfeasably slow pace and with no sense of movement anticipation. Once you have the targets in your sights it is actually a pretty dull experience.
However, due to to a certain portion of the enemies (turrets) spawning in random positions, there is often a moment of frenetic insanity when you first enter a room where you are bombarded from what seems like all directions. In most cases it just takes a split second to figure out where the barrages are coming from, find something to hide behind or which direction to move in to dodge the bullets, and it's a dull cakewalk again. But in that split second, if you find your view blocked by the ostensibly quaint, but actually quite obnoxious and distracting 2D smoke and explosion effects, and happen to run in the wrong direction, you are liable to recieve a ♥♥♥♥load of damage all in the one moment and DIE. And start again. From the beginning. When it really isn't even your fault.
The game has some quirky humour, plenty of easter eggs to find and a generally appealing steampunk-esque look and feel. But there is no point in this game where you feel your reflexes and cunning have helped you survive. Rather, it alternates between dumb luck when you enter a room and routine clean-up operations once you know where the guns are.
I'd give it about 2-3 hours of gameplay before the novelty gives way to irritation, so not a very good deal.