Considering this is basically a tech demo for your GB skills, I think you did very well specially since it is ported here on the web. Great job on that.
As a standalone game without any context, it is a bit lackluster. It's easy to get lost on what to do next if you stop paying attention, as there are no indicators of what Quest Item you are holding currently. It's also hard to keep track of the names.
I'm not sure if there was a pattern for the Lost Woods esque segment, but it seemed to be about Brute Force and memorizing the path (iirc original Lost Woods had an amplitude shift on the music for when you were next to the incorrect entrance); this made me almost fall asleep. In fact, a lot of the game seemed to have brute forcing and exhausting dialogue options, which is not a design I can say I enjoy.
The audio unfortunately was hit and miss; the snare in music that played in the village felt very grating for instance. I'd complain about no mute, but this is a GB tech demo.
To improve a game like this I'd add more dialogue per event to make brute forcing less painful, a map, a way to show the current item, and maybe a character log. I believe the map and the item display could fit in a "Start" menu. I'd also try to implement the audio cues for the Woods in some way.