hurr durr bad anime is bad (just kidding, I see that every time elfen lied is brought up)
I used to have that problem with my videos (or maybe it was just bad editing >_> <_< ), so that comment sold me on watching it
As an FYI, the OP forum rules state: "Keep in mind that this is for Opinion Exchange. If you make a topic asking for an opinion, please offer an opinion in return" I don't actually particularly care, don't feel obligated to give me an opinion on anything for giving you feedback on a WIP

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I think it's all right - you have some cool effects, and I was liking it for the first 30 seconds or so, but after a while it really feels like it's just an effects test video without a specific objective. I like the transition at :45 when the faster drums start, but then you didn't keep up with the higher tempo, so it ends up feeling like a false start. If you started cutting faster or doing some effect to match the new tempo, that part would work a lot better.
The stars could use a lot of improvement. Plain white circles do not make good stars. A good start is to have them slightly tinted different colors (I usually do stars in Photoshop with a scatter brush set to a slight brightness and opacity jitter). You might also want to play with blurring some of the stars in different ways to give them a fancier appearance. A good trick to getting decent looking cross-shaped stars is make a duplicate copy of the layer that has the stars, give one of the copies a horizontal directional blur and the other a vertical directional blur. Don't do it to all of the stars, or they'll look too uniform. Or, if you used a brush, find a nice star brush.
Around 1:10, you have a shot of young Lucy on the left, for some reason she's not cut out well there like the rest of the clips; maybe that part just isn't done yet, but it doesn't look very good. Feather doesn't really solve bad masking. I like the hallway part right after that though.
I assume Saikano is the other anime that appears in a few clips? I agree with more or less, it was really jarring to have a handful of random shots from something else in what is almost entirely an Elfen Lied video. As a side note, the clips from the other series are not in the correct aspect ratio.
I think there's potential here but you need to come up with a more specific objective, and maybe make the effects a bit more uniform to finish the video as it is. Alternatively you might want to adapt some of what you came up with into another video or two.