A lot like the first.
Completely unsubtle commentary? Check. Uneven comedy that runs screaming back and forth between painfully bad and inspired? Also check. I give this movie an A for the effort. The first movie was an uneven mess but we all remember the good stuff because it was good enough to justify the mess. The weird Brick quotes, the newscaster brawl, etc. If you don't go back and watch the first movie, you'll think this one is awful by comparison. If you do rewatch it, you'll find this is a worthy enough sequel. It looks like they chose to handle the burden of following the first movie by just ignoring that burden and doing what they wanted and it kind of works. Its worth watching but inevitably won't be as memorable.
The sequel's newscaster brawl kind of sums the whole situation up. They make it even bigger and more bizarre than the first. Brick inexplicably had a gun the first time, now he inexplicably has a gun from the future (doubles a brick joke, and its probably my favorite bit). There are probably 2 to 3 times as many celebrities in the fight, the weapons are bigger and badder, and they tried to add to the randomness factor by adding various mythical creatures. I think they knew that they couldn't recapture the magic of the first fight. That one worked because it was new and completely unexpected. But they could celebrate the first fight by making the second as big and random as possible. And that's kind of how this whole movie works. More is less in this sequel but its still better than nothing.