The first Spiderman film was simple, bordering on dumb. Despite that, it had some beautifully realised scenes (the spider-sense being triggered in the school hallway). The sequel is slightly smarter, but not in terms of the plot.
The direction subtly parodies classic films like King Kong, Godzilla and Evil Dead (which is hardly coincidental) in the framing of Octavius as a misunderstood monster. It works well.
The plot itself is somewhat cringeworthy, staying very much on the surface of the story arc while setting up plotlines for the next inevitable installment, without really getting anywhere. A shame given the richness of the backstory.
A reasonable film, certainly improving upon its predecessor in terms of cinematics, if not story.