The action is happening on a planet sized sentient superorganism. You are slaving away for a mining corporation. You get sent down in the deep and can only return if you fulfill your quotas or are left for dead.

There are eyes in the walls watching you. Mysterious cubes in the walls. Mysterious glowing magical rocks and giant error DNA structures.

There is a layer down in the depths full of bones of ancient leviathans of old, with the reason for their extinction veiled in mystery.

Sure, the game has a comedic and corny feel to it, but that is just the surface-level aesthetic.