It's better than Encore and Relapse personally but not Recovery.
There are low points on this album for me that weren't on Recovery.
Yes Recovery had WBD, WTP, and LTWYL on it, but I didn't find those bad enough to skip. They were meh, but not bad to the point where I had to skip them every single time I played them.
I have to skip STIW, Headlights, and The Monster every time I play the album. So much so, that I decided it would be easier to make my own playlist with those 3 songs off the album.
The highs of MMLP 2 may top a lot of Recovery (Bad Guy, Legacy, Evil Twin) but those lows can't be ignored.
Also, Recovery had fresher subject matter. Maturing and overcoming addiction.
This album really has content dealing with his mom, his rough up bringing, etc, like he didn't do that for the overwhelming majority of his career.
Lyrically he's in top form, the production is better and more cohesive than Recovery, but some songs are just unlistenable and the content left a lot to be desired in some aspects.
All that being said, it is a very enjoyable album. It can't beat the big 2 or even big 3 if you consider SSLP a classic. Eveyone here should be in agreement that it's better than Encore. So 3rd or 4th place is as good as it can get for a lot of fans I'm sure, depending on where they place Relapse and Recovery.
For me it's TES>>MMLP>>Recovery>>MMLP2/SSLP>>Relapse>>Encore