From the demo I'd say it definitely PLAYS better than the first one. The melee attack is much less pathetic, and the ability to sprint makes hit and run viable. It still could really use a slide or roll to dodge behind enemies, but enemies do little enough damage that I think we're just supposed to take our knocks while running by approaching foes.
It's Alibi though, so I bet the full game will have a disappointing lack of content.