Decent, but one thing that sort of ruined this movie
..was that they revealed too much. Granted, they didn't reveal a whole lot, but what they DID reveal was too much. But I understand why they had to do it, otherwise it'd be a carbon copy of the first.
What made the first so groundbreaking is that nothing is revealed of the supposed "villain." All of the scares are based on the subjective experiences of the characters. There is never even real objective evidence of a supernatural being. It was one of the first horror movies (if not the first) to essentially have no villain.
But here, the Blair Witch is revealed, even though it's only for a split-second shot. And then we see more of the witch's house - we see that it's going in circles and character's are back where they started, and doors are locking behind them. This is still too much, because it's an obvious sign something supernatural is going on and not a subjective experience of the characters. The mystery is gone.
And this is supposed to be a "found footage" film, but if it were a real found footage film, it wouldn't have been edited the way it was. When 2 characters are having a conversation, the camera perspectives switch back-and-forth between them. The editor who put this together within the film universe wouldn't so be so concerned with top-quality editing. And then when someone with a working camera is running and is in obvious trouble, the camera switches to someone else's - in real life, editors would've kept the other cameras rolling.
You're never fully dressed without a smile.