I feel your worries about the story not being received well. I've tried to keep the information to a minimum, but it's not entirely satisfactory. I would like more of a story, but so far I have not really made up my mind how the story should be conveyed. Interested to see what you come up with!
Yes, you're right, I'm a bit worried, in the end, it's first story I'm writing so far, and I'll be happy if it will be considered at least as good B-class cheesy sci-fi story. Let's see.
From what I realized, for good story-telling you need some well defined platform on which you give story to player.
I guess it's about players preferences, but from all possibilities, I like LEAST games where story is given in cut-scenes only. And worst are games with checkpoint system where you can't load back to point before cutscene, you loose something from dialog in cut-scene and game will save checkpoint directly after cut-scene. I hate it and more often than not I'm loosing interest about story after this.
The best platform to give player a story I experienced in my long years of gaming is when story is given to player in forms of dialogs, found notes, diaries, audiologs, etc.. In this case player builds connections, tension, etc in head by own pace, so tying player to story in game is much stronger.
In case of your game Devader, I'm really clueless about story. It's hard-core arcade shooter, so for me, most sense it's "Doom" or "Quake"-like story. So some cheesy text about kicking butts of hellish creatures after every episode is enough. When seeing animation, screenshots from Devader, I don't even expect some deep story behind. Rather I expect sweaty hands and tired fingers from frenetical fighting against more and more waves of monsters and bosses.