Actually I thought Reloaded was pretty good until nearing the end where they escape the ship and neo has the same moment he had against Agent Smith in the hall... Instead of stopping bullets though he stops the machines. I'm like, "Alright, no, fuck you movie. You cannot just be like, 'NEO IS A GOD, OR WE'RE IN MULTIPLE LEVELS OF THE MATRIX'." That's where it jumped the shark essentially in my book.
BUT compared to the original matrix, none of them are even the same kind of movie when you think about the questions and ideas that the first one imposed. It's hard to one up that shit.