This is off to a very good start and is full of potential! For the record while I did initially play the old version, I saw there was recently an update, so I made sure to play the newest version of the demo that was uploaded earlier today (I just skipped the writing I'd already seen). I do have to say I like the changes that were made and think it is definitely an improvement over the old version. It feels a lot more polished now. So I'm glad the devs are listening to the feedback they've already been given. I made sure to adjust my review based on the newer version of the demo.
On the positive side, I really enjoyed the characters. I loved their visual design, their relationships to one another, and the fateful encounters with the MC. It made for a very suspenseful drama. I did enjoy getting to see some slice of life elements as well in getting to meet, interact, and see some friendly banter between the MC and their friends. It felt very chill and realistic in that regard. The characters feel like typical college buddies and I enjoy the reliability. Yet amidst the familiarity, we're also presented with a major problem. A set of instructions that indicate the MC is being blackmailed by some mysterious stranger.
Which brings me to what impressed me the most. I love the themes of inner struggle in terms of morality. Wanting to be a better person, but also being driven by fear of this mysterious blackmailer who seems to be following us and know everything about us. The writing and presentation is very effective in terms of establishing the tone of the story early on, by creating this very uncomfortable feeling of having our privacy being violated by this daunting antagonist. While the writing did tend to overexplain the MC's thought process at times, it kind of works here as we get to see that inner-struggle at work.
In terms of constructive criticism, I like the look of the main menu, however, unless I'm completely missing it, there's no option to Continue or Load an old save file from the main menu. Instead, the player has to start a new game and then access the loading screen in-game. It just seems a little odd. I know this is just a demo and easily completed in a single setting, but it's definitely something I would expect to see in a more final version of the game.
I'm not a fan of making choices time-based. I know it's a classic vn mechanic, but one that's a little dated. And for good reason. Players read at different paces, especially when reading aloud for a playthrough recording or while streaming a game live. It's not a huge issue, because scroll back is enabled, so the player can always scroll back to read all the options, but with this being the case, there's not much point in having it be a feature to begin with. At the very least, I wish there was an option to disable it to make it more accessible and reader friendly.
Other than a few minor tweaks, overall I enjoyed this story a lot! Getting to meet the characters and their interesting dynamics. I love all the ideas here and I do see the vision of what it could be. I'm very curious to see where the story goes and how this project evolves as a whole further down the road. Keep up the good work!