In short, BNG is a fantastic racing game, especially for a WipEout fan like me, has tons of content and surely can bring newcomers to the love of antigrav racing.
Keywords are antigravity, weapons pickup, precision racing, futurism and Steam Workshop as well.

BallisticNG is both a WipEout fan game and its own game. It is for sure the closest experience you can have on PC outside emulating the original WO games.
The game is closer to Wip3out from the PSX. It has stunning low poly graphics with beautiful colors, as it wants to look more like the classic PSX games, and allows filters to make it even more retro.
Gameplay wise, it is also very similar to WO3/W3O, it even has the turbo mechanism that eats your energy, a feature that at first i didn't like but provides a lot of cleaver ways to optimize your speed.

It is as well a combat racing game and weapons pickups are mainly based on WipEout games as well. To quote a few, you do have the quake disruptor, the guided missile (without the unlock version of it sadly) the triple rockets, mines, shield, the beloved plasma (that the bots love to one-shot you with) and some others.

Game modes are many and also based on WO games: traditional racing (with weapons) pure racing (without weapons) survival (which is like the zone mode) time trial, etc. Even has eliminator.

The Survival mode is one i always like to show to people as how fascinating it is: the graphics are now abstracts, following the music beats, your ships with the best handling stats and you can only get faster! This makes this mode the best pilot's challenge as you must do your best to pilot with a speed that you can't even reach in the usual race.

This game also has the option to change the physics, making the gameplay closer to different WipEout games. It has the modern WO style, which is more nervous and has barrel rolls for turbos (like in WipEout Omega on the PS4) a "floor hugger" mode (a nod to WO Fusion on the PS2) and a physic cheat called "BNG 64" which apparently makes the game closer to the feel of WO64.

Now that you are asking, YES the sountrack is GREAT. In fact, it's so refreshing to hear so much electronic beauty after playing WO Omega and its insanely disappointing soundtrack. You can tell that the music is made by WO fans and wanted to put their own mark on the series legacy. One of the artists is Shiryu, who also made WO fan albums.

The game also uses Steam Workshop! Some even managed to recreate WipEout 2097 with it.
You can also customize your soundtrack, sound effects, take photos during the game with a very complete photo tool and create your own race tracks using the editor!
I haven't tried the online yet so i can't comment on it.

All of this makes BallisticNG not only the best WipEout fan game, but also a great antigrav racing game with TONS of content.

The piloting feels great but is also really demending. Just like... WipEout.

+ The best WipEout-like experience on PC
+ Lots of content
+ Steam Workshop
+ Smooth, fast, the sensation of floating is perfect
+ Godlike tier soundtrack
+ Great presentation
+ Still updated!

- Really hard, requires to play a lot to be efficient (but you can still chose to race in slower classes)
- Getting platinum medals in campaign is absurdly hard and frustrating: enemy ships go clearly faster than you (i still have no idea how am I supposed to win pure races) and survival events can be filled only by the best players.
- Some ships main livery are dull and could use a redesign, imo.