Not at all, there are quite a few people that can see past a lot of the originals flaws, and can see that objectively Bioshock 2 is a better game than the original.
See here for example - SPOILERS!!
http://www.gamesradar.com/f/the-top...better-than-bioshock-1/a-20100212164450805076
It doesn't disentegrate in the last third of the game, combat is much better and varied, the environments are much more open and less linear.
Subjectively, the story in Bioshock 2 is even better to me, it's quite a touching personal affair that resonates much more with me than the originals bombastic storyline.
I've said it before on here, the only problem Bioshock 2 had was that the Rapture money-shot had already been blown, so it didn't have the same impact.
Of course, Bioshock 2 starts off quite slowly, and I can see why that put a few people off, but it gathers pace and never lets up - the final 3rd is fantastic.
I'd put Siren's Alley from Bioshock 2 up against anything from the original game, including Fort Frolic.