It was really good at building up a mystery over the course of the first season, but I've been a little disappointed in the second so far.
The pacing's become glacial; the first couple of episodes worked mostly to undercut the dramatic significance of the events of last season's finale.
And I feel like the way that the satire is slowly being replaced by self-serious "lore" is hurting the show; it was very funny and disturbing to see the way the innies are "raised" in a cult and view the CEO as a kind of Messiah (and observe the parallels to real-world corporate culture); Lumen really being an evil cult - as opposed to just an evil company - in "reality", feels less satirical and more ham-fisted.
The ending of the most recent episode suggests promising things to come at least.