Experimenting with sound effects is fine, but personally I just found it annoying, and it sort of undermines the piece as being usable in any actual submission.
The actual melodic line is good, but it doesn't really loop around as an entire piece. Really, theres only about 20 seconds of looping melodic material.
If you're making it into a two minute piece it really has to go somewhere or otherwise all you're doing is making the file size larger than necessary.