I love Shrek and expect to love Shrek 2 (which opened big, meaning an ogre out-opened Brad Pitt), but this is a good point from the NYT's A.O. Scott:

Certainly "Shrek 2" offers rambunctious fun, but there is also something dishonest about its blending of mockery and sentimentality. It lacks both the courage to be truly ugly and the heart to be genuinely beautiful.