The camera is pretty much on rails (auto scrolling) but that is how the original game was too. Same for the animation look. These are two problems that most people point out with the original as a reason to avoid it.
I am not a huge fan of this one but there are fans so I wanted to let them know about this one. If you are interested in a fantasy action side scroller then check out Magic Sword by Capcom (SNES/Arcades/compilation releases).
RE: Altered Beast Fan Game Released New Modes and Enemies