Downloaded it and gave it a go, I'm 97% sure that it's just a single-player game faking multiplayer using bots. There's absolutely no latency/ping/rubberbanding AT ALL.
We're working on improving the physics and will hopefully be able to share some insight into specifically what we're working on early next week.
That said, it's literally impossible for an online physics-based game to perform as well as an offline single-player one.