I mean, they do try to wrap a story around the whole fan-service-y bits, but in the end its all just window dressing. In this case, Lemnear is a scantily-clad sword-wielding silver-haired beauty who is out for revenge, and ends up being at the heart of a prophecy.
However, that's all just an excuse to get to what Urushihara does best: Drawing nubile young girls in various states of undress. No, it's not a porno flick, but rather that teasing risque anime that gives fifteen year olds in the eighties all the titillating giggles. And in this day and age, that's not nearly enough to hold up as worth viewing.
