When taken into consideration that this is intended for younger audience, this movie certainly isn't bad. It's not great or original, but it's fine enough for things like family movie night.
The story is somewhat cliché, but that's only to be expected with movies like this. And at least it is not as much of a copypaste as it could be. It includes one of the most overused and annoying tropes of allies getting into a fight/disagreement, usually over a misunderstanding that could be solved with actually explaining stuff to others. But at least this time it's not done as just a cheap way to increase the drama as the finale is getting closer and with the conflict not adding anything to the value - in Dragon Nest: Throne of Elves it is the main theme that starts pretty early, so it barely gets a pass from me. Other than that, this is basically a typical "good guy protagonists vs plotting villain" animated feature.
What I liked the most about this movie was the animation, but I am a fan of 3D CGI, so if you don't like it you'll most likely have a different experience watching it. The action scenes are fluid and not chaotic. The character designs also aren't bad, especially the protagonist's love interest being quite cute. It does this one annoying thing though, which is scenes where objects are hurled towards the screen in slow motion in manner that was obviously meant to showcase the techonology for 3D glasses, but it looks weird when watching the 2D version.
Overall, I liked this a bit more than the first movie.