It gets right into it. No main story arc about who's watching these videos. We start off with a story of vacation, youth, recreation, death, sudden and surprising horror, partying, wait, this was just an old video tape of young adults having fun, right? What could possibly go wrong....oh wait.... HOLY @#$!
So the first segment was so misleading, I honestly forgot what kind of movie I was watching until things got intense. Then it took a turn. A very "different" turn. This is not your usual VHS film, nor is it a typical, cash-grab low-budget horror. It does well for itself.
Despite the unattractive, distracting segment totally dependent on subtitles (unless you are fluent in Spanish), every segment is promising, intense, and fun. There are lots of great moments. It's not at fearful as the first VHS movie. No VHS sequel only will be. But this is the best installment since the release of the original.
It does get a little weak and predictable for the last couple segments. Still, it's fun. Have a few drinks, kick back, and just have fun.