Yes, that’s really the name of the game.
Luminous Avenger is a sort of sequel to Gunvolt Striker 2, in that it follows on from that albeit about 100 years later and with you playing as Copen, Gunvolt’s nemesis. Although it turned out Gunvolt and Copen were really on the same side, sort of, but from different directions. Anyway, mankind has been mostly enslaved or destroyed by the bad guys from the previous games and Copen is now a machine because, well, 100 years have passed. Gunvolt isn’t in it because (spoilers) he be dead. Yeah, the Copen ending of Gunvolt 2 seems to be the canonical one? Whatever, it seems you didn’t save the world and in fact, it all got a lot worse.
The game plays out just like before, with Mega Man style bosses that give you special powers that are especially good against other bosses. Copen’s gimmick is he can fly into enemies which then targets them to be shot or have those special powers triggered on them. There’s often a bit of aerial action where you “bump” from enemy to enemy fo combos and to pass dangers or bottomless pits.
Just like previous games in the series, it’s very slick, a lot of fun, and has bosses that seem impossible to beat until you realise they’re not. Now, where’s Gunvolt Striker 3, eh?