Its good
Games with core gameplay of Canabalt existed years before Canabalt, so I wouldn't dare to call it a rip-off just because its one-button, the main character runs and because its procedurally-generated. That's really silly.
It does however make me feel like Canabalt does. It rewards me in the similar manner, though this game feels more intense as it rewards me all the time and a lot. Also, I don't know why, but I think it would have been more fun if it was speeding up. The score would make better sense I think, as other rewards are quite random and can happen right at the beginning of the play, so there is not much to expect if you play it for long time other than topping the leaderboards, of course. (though, Canabalt hardly speeds up too; the only game where speeding-up is properly executed is Robot Unicorn Attack, I guess)