Played the demo, unimpressed, and fairly angry that it's being so heavily pushed. Bargain-basement platformer mechanics that, if stripped of the graphics, wouldn't appear interesting to anyone. I don't get the whole concept of it being disturbing. In my tenure as a hero I've battled way worse things than one slow-moving giant spider. Simply making my character childlike does not breed a feeling of terror, and they didn't really offer me anything else. I may be bitter from my game not selling as well as it should despite it having actual mechanics and difficult-to-make artwork, but that aside I still think this is a game that is succeeding despite the fact that it is simply not that good.
I'm frankly baffled people are willing to pay 20 bucks for 2 hours of "cannot lose" gameplay that isn't even creative. 20 bucks for a platformer just because it's in black and white? Worst aspect has to be the random deaths. For me, it utterly and entirely destroyed any capacity for me to feel horror, terror, or fear.
Instead of making me paranoid, the "bang, you're dead" style violence just served to make me not even bother with keeping my puppet hero alive. Death was entirely painless, like a Bioshock Vita-Chamber respawn. Since there was no penalty for dying, the ultimate 'punishment' boiled down to nothing more than going back 5 seconds earlier. Furthermore, the kid just felt like a shadow, not a real kid, so I never felt remorse in letting him die. I really like scary games, and I'll admit that some games can really get under my skin, but this is just not one of them. I never felt a feeling of wrongness or horror.
Shorn of the element of dread, I can't see anything that this game brings to the table (within the Demo's span) besides pretentious self-importance with regard to post-process fuzzy effect filters and run-and-grab game mechanics basically unchanged since Super Mario Brothers 2.
I really don't get it. Anyone who likes Limbo, please, go look up Psychonauts. It has a lot of the themes you probably enjoy, it's incredibly well made and innovative, and it didn't get half the love this over-hyped crud-nugget is getting. And buy my game too.