Didn't think much of the first movie myself, almost anytime the Clown appeared it was punctuated by a loud noise to try and get a jump scare and it got old fast.
The more you seen of the Clown the less dangerous\scary he seemed, I think they gave him too many scenes where he was in full view and it just got goofy looking after a while. Plus he had too much to say which again made him less threatening, just go for the kill instead of talking people to death. In some scenes the voice reminded me of Yoda, particularly the first killing scene with Georgie
Had they done a few killings with a fleeting glimpse and and built him up it may have been more effective, for a time at least. Maybe if they kept only his eyes visible during the first killing in the sewer it would have been a better build up to the reveal of the Clown.