Well it had its moments, but really it failed to live up to any of the promise of the first season. Whereas Season 1 of The Boys finished with shock revelations, complex characters and a decisive break from the source material, Season 2 rowed back on all three.
The biggest disappointment was of course Homelander, who by the end had more or less been reset to the "stupid Superman" character he is in the comics. All the hints of depth that he had in the first season are now gone. He doesn't say prayers before bed with his kid, for example, so presumably we're to take it as read that his Christianity in the first season was simple hypocrisy, rather than something that might have made him an "interesting" person. And although he can still be sneaky and manipulative from time to time, for the most part he's basically so dumb he's hardly even frightening anymore.
Every now and again, for example, both he and other characters seemed to be forget what his powers actually were. Why doesn't he hear Ashley Barrett approaching the door of Stilwell's old office, for example, before she interrupts his "moment". (Did he drop the bottle? Why not just screw it up into a tiny ball? Was he too engrossed in said moment? Is he starting to lose it? That would a surprisingly human direction to take a psychopath former lab experiment, but otherwise it's just a strangely sloppy moment in an otherwise remarkably genre aware franchise.) Ditto in episode 2! Why does he need to go through his ex's drawers when he could just, er, x-ray them? And by episode 3 he can stand in the same room as someone having a 'phone conversation and pretend not to overhear it - although of course in the next episode we discover that he did overhear it. (Why did Maeve imagine that he hadn't? Is she genuinely not so bright as we thought?)
More painfully, it's no longer clear that there's much more to the show's "politics" than simple, unrelenting, grinding (post-Trump!) wokeism. The show does still have its moments, but they're sketchy and less frequent than they used to be. Is there a socio-political comment behind Ryan's home-schooling, for example? Possibly - but it could just as easily be that home-schoolers can't manage to hold out against the "real" world for long. The idea of superheroes' being not "born" but "made" is a direct rewriting of the palaeo-leftist X-Men mythology. And the cut to a therapy session with the Deep is a direct call-back to the whole "being a mutant (or a kid wizard, for that matter) is like being a gay" meme. (Hero or monster? Beautiful angelic higher-functioning sociopath or neurotic little pervert? You decide!) But it's little more than a joke that is funny for a moment and then goes nowhere. The whole 'Girls get it done' subplot meanwhile is a glorious satire on Hollywood's prurient intersectional approach to homosexuality, but it never goes much further than a basically clunky leftist message that celebrities should be entitled to their "private lives".* And the worst "racist" in the series is of course Butcher, who apparently blames all supes for the sins of a minority of them. But we're supposed to imagine that by the last episode he's started to see the error of his ways.
As it happens, the weakest element in the drama throughout hasn't changed at all. It's very much still there, and it is of course the Boys themselves. They're almost wholly unlikable and, more to the point, their motivation is seldom clear. It's possible that modern screenwriters just aren't able to create identifiable right-wing characters. But it's also possible they're just lazy. Why, for example, do our eponymous anti-heroes spend so much time just lounging around in a basement? I can't say. But it's very, very boring.
The best new addition to the series was of course new supervillain Stormfront, but by the end she's been outed as a "Nazi" and (quite literally!) disarmed. The possibility of an interesting relationship between Homelander and his son has been peremptorily curtailed. Simon Pegg's not in it anymore. Most the old cast are now more or less 'phoning in their performances. And the revelation that the new left-wing politician character (basically an Alexandria Ocasio Cortez calque) is really a baddy looks altogether doomed from the outset. We're certainly not being promised that next season's baddy will be Far-Left, to balance out this season's "Far-Right" character. In fact quite the opposite! There's little doubt that she'll eventually be exposed as a "hypocritical" liberal who's simply "sold out" to the corporatists of Vought. Her leftist ideology will no doubt remain uncritiqued.
So all-in-all something of a disappointment - and with Joe Biden back in the White House there's little prospect that it (or any of the rest of America's "cultural output") will be getting very much better anytime soon!
*And they, of course, get to decide what counts as "private".