Yes, I know it mainly uses sawtooth waves, but that's what the original song was called.
The song was originally made by David Murray. It was made for video on his '8-Bit Keys' channel where he reviewed a pulse wave keyboard called the Yamaha PSS-125. David Murray then had Anders Enger Jensen compose the soundtrack to his C64 game 'Planet X2', hence the simplicity here. One of those songs happened to be a remix of 'Oh No! More Square Waves!'.