I like the idea! I think the instruments feel a bit too clean on this one though. I’d add some more reverb and reduce the sample rate on drums especially, but also on the synths slightly. Soft bit crushing may apply here too. I would also add an ambient pad - it would fill out the empty space in the song while still keeping it minimal. Levels may need some work. As for the rest, the track works quite well compositionally, the idea is solid and it fits the lo-fi style quite nicely without being boring or bland. Looking forward to your next work!