Here's my honest criticisms regarding what I've seen of Punny Factory.
I think overall it's a cool project, and I love seeing simpler games getting made. Not every modern game should have to be more complex than the last. However, there are two big issues with this one, the artwork and the theme execution.
The theme execution falls flat because it's played too straight. Look at Dr. Dude. It's a super cheesy theme, but it works because the team behind the game did the whole thing with a tongue in cheek. Punny Factory needs to loosen up a bit, become more self aware, and develop a bit more personality beyond just "a pun factory gone wrong" to succeed.
As for the artwork, it's certainly competent, but pinball has had a standard of having fantastic artwork for decades. As a result, simply competent artwork looks pretty bad in comparison. Either the artist needs to be to told to draw in a style they're better at, or just replaced with a better artist, one that can compete with the standard set by other pins.
I think improvements in those two areas could really improve people's reception of the game, but as it is now I honestly don't see very many people being interested in this.