It's tied with the worst Spidey film with me. Say what you will but the villains in Spidey 3 were better. They were more developed, better motives, you could understand them.
Sandman = steals money to save his daughter
Harry = blames Spidey for Father's death
Venom = blames Parker for him getting fired and humiliated
Now let's look at TASM2
Rhino = mobster for a Russian mob that somehow is a threat to the city despite not being mentioned in the first. Also given a metal suit somehow.
Harry = blames Spidey for not helping him.
Electro = blames Spidey for forgetting who he is despite the fact Spidey saves lives on a daily basis
When you do a sequel, you need a strong villain or the film falls. Darth Vader in Empire, Joker in Dark Knight, Zod in Superman 2, Penguin in Returns, Khan in Wrath, Doc Ock in Spidey 2, Stryker in X2, (spoiler) in Cap 2, I could keep going on.
The only developed character in this is Harry. Peter is the same throughout the film except he has no Gwen.
Also the theme of time kind of sucks. What in this film does time involve?
Time left before Gwen leaves?
Time left Harry has?
Time left before the planes crash?
Some of these we saw in Spidey 2. How is Gwen leaving for Englund different from MJ getting married? I think the second is worse. She's just studying aboard not leaving you.
Also how is the planes crash any different from the nuclear fission bomb about to go off in Spidey 2? Both you need to stop quickly.
It's just bad and poorly done.