Yes, it does have a good format to be scary with the darkness and limited lighting through the blinking lights and flashlight. With the doll as a good subject for horror. Also gradually increasing the tension through 2 different stages of the game is a good way to extend and vary the tension.
I do like the subject for horror, using a doll has potential for more physical uses for horror. Although it may be over used as you currently have it.
I would like to see a 3D model for the doll and giving it smaller subtler interactions with the player, like falling over, appearing at a door way, making small shakes.