Areas to improve? the villains.
The problem is that as the Devil's bounty Hunter, GR is such a powerful character that the badguys shouldn't be too hard to handle.
Blackheart did kick his @$$ but apparently not enough for people so ...
The Spiderman movie set up the sequel well. Introduced the story and then more action in the second.
I would say that if this was to be a franchise (which I don't think it ever was) they had to give us lots of backstory.
He had as much or more ground to cover than spidey when you realize that this character has been around as long as batman (almost -- Phantom Rider '49) but in a bunch of different versions.
He had to bring us his vision of the Rider.
The sequel could be better or be more pleasing to the worst critics if they had more action / fight sequences and a more intimidating "Badguy/Boss" for him to face ...
IMO