Its like all Suda 51 games, either you love it or hate it. I personally loved it as much as Shadows of the Damned. It seems most reviewers just don't know how to play the game right. It has pretty awesome combat if you can get the hang if it. Surprisingly it seems very few understand the combo system. Its really not that hard or slow as many make it out to be. I do wish there were some charge up attacks though.
I never even knew a sequel was being made. Either way its kinda sad. But, Platinum is working on 2 amazing looking games which look way better than Bayonetta.