I have to agree with most of what FordGT said, and you aren't the first to say it has no soul. I've seen it said elsewhere and it's true.
Pursuit Breakers & Cooldown Spots vs drive and hide
While you CAN say PBs and CSs aren't "needed" in this game, they were elements in the last one that added fun. There was cause and effect, find and reward. I have no trouble evading in this one, but it feels more like a wild goose chase using the mini map to avoid going where cops spawn vs using that mischievous destroy and dash element of MW1 that fit the whole theme of climbing the MW ladder better. Here it feels more contrived because the game constantly magically spawns cops more to keep up with you. In MW1 I studied the map a lot to devise various Bounty Run routes because despite the Pursuit Breakers and Cooldown Spots, you needed to have a good plan to evade. Here the cars and boost are so powerful you can hide almost anywhere after some mad dashing.
Upgrade system of MW2
It's overly simplistic, and while I don't agree that there's not much difference in using them, there are plenty of cases where you're better off skipping certain ones and sticking with stock parts, specifically gearing, barring special events like solo speed runs. There are SO many races that start off seemingly tarmac only, then switch to lots of off road sections, so those grippy track tires only work well on certain races. There's also SO much bashing going on that seldom would you choose aero or lightweight kits over reinforced or impact resistant. Basically they leaned too much toward Burnout and not enough toward Most Wanted. I also LOLed at nitro on the Tesla. I imagine even Elon Musk had a good laugh over that. Musk, "So what, do you somehow inject it into the electronics?" Criterion, "Yeah, it's a new nitrous infused version of fluorescent fiber optics we conjured up."
Unanticipated vehicle crashes
While I don't agree completely that it's usually hard to dodge traffic, the overall poor visibility in the game can certainly cause it on it's own, along with lots of obstacles along winding narrow streets that are hard to see in time at high speeds, and the oft placed crossing traffic just when you've gotten a good lead up. The game certainly tries it's best to make you slip up in very annoying ways.
Events and cars
It's a shame that while in many respects the game is lackluster and annoying, many of the race routes and cars are fun. They certainly didn't dial in comparative handling well though. Anytime a Porsche 918 handles worse than a Bugatti Veyron, you know they've dropped the ball on vehicle characteristics. Yeah, I know it's just an arcade game, but still, ANY game with this many licensed cars ought to at LEAST get the comparative handling dialed in from one drastically different car to another. Needle Point and some others are quite exhilarating. I think that one and a few others I barely got up enough ave speed to get the #1 spot. That's not saying much when you consider I'm in my mid 50s and playing on KB though.
Overall satisfaction & replay value
Not much to say here. As mentioned, the lack of an engaging story and characters, fun gameplay elements like toppling signs and scaffolding onto cop cars, and fine tuning, just takes a lot out of the game. To add to that features like nitro on an electric car and a Veyron that out handles a 918 just adds insult to injury though. I became 2nd on the MW list after only 37% completion and just ONE MW car taken down, and have remained there after having taken down and fully upgraded via all the races for all but TWO of the top MW cars. The progression feels confusing, repetitious and lifeless. Add to that no difficulty levels to work your way up through and I see no reason to play this game through more than once.
For anyone implying the game has a built-in variety of difficulty level, I say to that it's yet another oversimplified cheap game element that doesn't work. For one, if you DO have to skip the Hard events due to not being able to beat them, you miss some of the better race routes. Two, there are SO many fast cars in the game, some of which handle quite well, that if you so much as equip the upgrades you get from the Easy and Medium events, they don't really FEEL all that Hard. In fact a lot of Hard events are actually quite easy because of this.
Summary
Oversimplified, unfocused, lifeless game that has no resemblance to the MW1 formula that worked quite well, wasn't broken, and didn't need fixing.