I'm not sure where that "again" comes from. IBM has never been good a product and everybody is looking at OS/2 through glasses so rose tinted that they're essentially blind. The PC itself was a skunk-works project that was removed from their influence as soon as the rest of company got involved.
Native application support was limited, and it was even less of a pure 32-bit OS than Windows 95, but for about a year it was the only game in town if you wanted to run 16-bit Windows applications with preemptive multitasking and memory protection, and still had some advantages over NT when it shipped.
I don't remember all the details, but I recall not switching to NT full-time until 3.5, and even then the UI wasn't as nice.