Yeah, I enjoyed Sonic 4 Episode 2. No way could it beat stuff like Binary Domain, ASRT or Hell Yeah, but I still enjoyed it quite a bit. I'd put it second tier in my favorite games listing.
I guess my issues with Sonic 4 Episode 2 wasn't so much the game itself, which I thought was a solid 2D Sonic title, but that it made so many improvements that it didn't feel like an episode 2 to episode 1. If anything, it felt like a reboot to Sonic 4. I had envisioned the episodic titles to build off of the map screen, like how Sonic 3 and Sonic & Knuckles created one big game. Instead, Episode 1 was a separate title from Episode 2, and the only real link were the Episode Metal episodes which were fun but way too brief.
I guess, given the hate Episode 1 gets, it was for the best to distance Episode 2. But the OCD Sonic fan in me wishes you could play from Splash Hill through to Death Egg Mk II. It doesn't help that SEGA is now being very iffy about an episode 3. In fact, it seems they cut a teaser out of the end of Episode 2, which makes the final ending very unsatisfying. Sonic and Tails just float back to Earth. No big happy ending, just an incomplete sort of bleak end. I have a feeling the teaser involved the Master Emerald appearing on screen and getting stolen by Eggman.
IMO, Episode 2 was good enough to warrant an Episode 3. If Episode 1 got a followup, and Episode 1 itself was pretty weak and unoriginal, then Episode 2 deserves a follow up.