If you're wondering why Knack , of all games, has been given the sequel treatment, I'm not 100% certain I can answer that question, other than to suggest that someone important at Sony has a bit of a soft spot for the peculiar monster.
Just about every flaw of the previous game has been resolved; Enjoyable combat with multiple moves; More cohesive story and less cringe worthy dialogue
If you didn't like anything about Knack as a concept before; chances are much won't change