I like the descending bass line at the beginning and the rhythmic elements. The piece is catchy throughout, and has a lot of good ideas in isolation.
The transition at :41 is very abrupt, as both the mood and instruments change at the same time without much warning. Maybe some drums/crashes/risers would help smooth it over a bit, but you might even want a "cross-fading" section where the bass line fades out or gets automated so that it sounds more atmospheric, and simultaneously the pads fade in.
Later in the piece, you try to create variety by either switching out instruments with new ones playing the same pattern (example, 1:10) or by switching up the rhythm of that same pattern (1:36). There's also an extended build-up/transition at 1:50, but on the other side of that (2:06) you haven't really added much novel harmonic content either. I think what you really need is more variety in the harmonies themselves, not new instruments/rhythms playing the same harmonies. Try crafting a melody to match the bass line and pads. Or change the chord progression over time, beyond the 4-chord pattern you have playing for most of the piece.
That said, I like a lot of the instruments here, like the quirky synth at 2:07 and the dreamy pads at :41. When the two bass instruments are layered on top of each other (like at :27), the texture sounds really crisp and punchy.
Overall, this piece is not bad at all. But to improve it further, I would suggest prioritizing 1) adding more depth and variety to the harmonies and 2) smoothing over some of the sudden transitions here. Hope this helps! ^_^