Games like Phantast
Games like Phantast include Chippy, 12 is Better Than 6, Cuphead, Voidigo, and SYNTHETIK: Legion Rising. We matched them by the tags players give Phantast on Steam (Shoot 'Em Up, Top-Down Shooter, Twin Stick Shooter, Colorful, and Stylized): closest matches first, and among equally close ones the better-known games.

Chippy
Shared: Twin Stick Shooter · Shoot 'Em Up · Top-Down Shooter

12 is Better Than 6
Shared: Top-Down Shooter · Shooter · Hand-drawn

Cuphead
Shared: Difficult · Hand-drawn · 2D

Voidigo
Shared: Twin Stick Shooter · Shoot 'Em Up · Top-Down Shooter

SYNTHETIK: Legion Rising
Shared: Top-Down Shooter · Twin Stick Shooter · Difficult

Insect Swarm
Shared: Shoot 'Em Up · Top-Down Shooter · Twin Stick Shooter

The Hong Kong Massacre
Shared: Top-Down Shooter · Twin Stick Shooter · Shoot 'Em Up

RUINER
Shared: Top-Down Shooter · Twin Stick Shooter · Action

HELLDIVERS™ Dive Harder Edition
Shared: Top-Down Shooter · Twin Stick Shooter · Shooter

Sektori
Shared: Shoot 'Em Up · Twin Stick Shooter · Colorful

A Dance of Fire and Ice
Shared: Difficult · Colorful · 2D

Brigador: Up-Armored Edition
Shared: Twin Stick Shooter · Top-Down Shooter · Difficult

Geometry Dash
Shared: Difficult · Colorful · 2D

Beat Hazard
Shared: Twin Stick Shooter · Shoot 'Em Up · 2D

Bit Blaster XL
Shared: Shoot 'Em Up · Difficult · Shooter

Waves
Shared: Shoot 'Em Up · Twin Stick Shooter · Shooter

POSTAL
Shared: Top-Down Shooter · Twin Stick Shooter · Shooter

Cyberhunt
Shared: Shoot 'Em Up · Twin Stick Shooter · Indie

Minishoot' Adventures
Shared: Twin Stick Shooter · Top-Down Shooter · Top-Down

Nex Machina
Shared: Twin Stick Shooter · Shoot 'Em Up · Difficult

Sky Force Reloaded
Shared: Shoot 'Em Up · Top-Down Shooter · Top-Down

God's Trigger
Shared: Top-Down Shooter · Shoot 'Em Up · Twin Stick Shooter

KILL KNIGHT
Shared: Top-Down Shooter · Stylized · Twin Stick Shooter

Hotline Miami
Shared: Top-Down · Action · Indie