I didn't find it to be terrible. I found the game to be very enjoyable on the NES, SMS, and Atari 2600 and I liked what I tried of the Lynx version.
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I played Strider last night for the first time. It is a a fantastic game. If not for the 16-bit version, the SMS version could be known as one of the awesomest games on the system.
Level layout and the player action is fluid and instinctive and not at all at odds with the well known Genesis/MD version.
BGM kinda blows my mind.
I agree Outrun on SMS/Mark III is ridiculously good. Those tunes are some of the best videogame music of all time and they're represented stupendously here in 8-bit.
Little known fact: Outrun supports analog steering via the Sega Paddle Controller.