This is excellent. I love hearing knockoffs of popular tunes, straddling the line between originality and copyright infringement. I once had a project that involved that and you'd be incredibly useful if I ever revisit it...
Impressive technical work to imitate the sound and style of traditional Koji Kondo, but it feels more like a checklist of imitation and inspiration rather than inhabiting the same spark that defines a good Mario OST.
I give my criticism out of respect, however. I recognize a lot of study and passion must have gone into this project, I just feel like it's important to go a step deeper and not imitate the face, but rather imitate the heart.