The pixel art is super lively, the color pallets meld and mix nicely, the story feels appropriately paced, just everything about this came together super well. And that runtime is outright impressive.
The only thing that felt slightly weak to me was the long, wordy intro, but I feel like that was meant to be senseless and rambling in the first place, like it was the intent to make reading it feel kinda like a chore just cause every fantasy world seems to need a convoluted backstory. (Still, having that bit narrated might've added to that effect and could've added an element of humor there, like if the narration gradually gets faster and faster.)
The writing makes this also seem like this is part of a bigger story, but it fits nicely as a single episode. It's as if it could be part of a series, be it independent or even for TV.