Not any worse then the first, but then, certainly not any better.
This game basically adds three things:
A new race, the Dwarves.
The Dwarves are one of the most boring, unoriginal, and worst thought out race of all time. Every single unit (except the last one) in the Dwarf faction is a Dwarf. While that may sound weird, having just rehashes of the same unit filling every slot in your army gets boring fast. Even their stabs at uniqueness are uninspired(Bear rider is bad. And the Thanes are basically giant Dwarves, which makes no sense).
A new terrain, snow.
Although the snow landscape adds some nice diversity in visuals, they serve no purpose if you don't play the Dwarves, which you probably won't.
A new campaign.
Just like the first, the campaign is lack-luster at best. it felt like they had no ideas, so they just stuck **Insert stereotypical plot device here** into a campaign and tried to think of ways to show off some new units and the Dwarves.
So in the end, if you get this in a pack along with the other 2, fine. But if i were you i'd just skip this installment all together.