TF2 was overlong to a greater extent than the first film. A lot of the direction was sloppy. It was underplotted, and despite its gargantuan runtime, characters were underdeveloped. It was more racist and misogynist than the first film. There's something slightly icky about watching a film like this and realising it was made by a 44 year old man. It's tiring waiting for him to act like a grown-up.
I think the first film was far more successful overall; it met the expectations it set for itself. I think the success of the first film made MB lazy with the second.
SofaMan - Occasionally Battling Evil with his Mighty Powers of Indolence