Ok, I have tried to gather my thoughts now after some listenings.
1. I like the ethnic instruments in it, even though it sounds messy I understand their ambition. It sounds too much and too little at the same time. There is too little bass and too much treble sound effects which makes it sound empty.
2. Her voice sounds strained, sometimes it sounds good but I fear that the live performance will be painful if she's straining her voice so much. And is it just me that think of Mariam Kakhelishvili that sang Mari Dari in JESC 2010? Their voices sound exactly the same from 2:38 for example, and that's a shame because I loved Mari Dari but felt that her voice destroyed the whole performance.
3. No doubt that they will stage something amazing if you base their level of ambition on the music video. It will probably improve Armenia's chances in the final, because this will definetly qualify. I think they could fight for a top 10-placing, but not for the win which I was hoping
4. The overall impression is despite the negative first impression quite positive. I think this song will grow on me, but not at the moment because I have a huge headache and the song is not helping very much
EDIT: Forgot one thing! Is it just me that can't hear what she's singing?