Well, it was a nice try, I suppose. In the sense that one of these coldly-calculated sequels to fondly-remembered movies is a "nice try" to shake some cash out of movie-fan wallets.
The original movies were in 1989 and 1991. Let's see, math… yes, thirty years ago. I watched them both. They were kind of amusing fluff. But this movie relies on me remembering plot details of three-decade-old fluff in order to make sense out of what's happening here.
Anyway: Bill and Ted are older, still married to the medieval princesses they grabbed in the first movie. They each have a daughter, who echo their fathers' blissful cluelessness. Unfortunately, they've failed as a rock band, and (more importantly) failed to fulfill their promised destiny of writing and performing a song that will bring the world together in harmony. And time's running out for that: they're notified that they have a little over an hour to accomplish the feat, else the universe will be destroyed.
It's amazing how little I cared about the universe being destroyed.
The movie gets one star, thanks to this bit of trivia
When dialing infinity Ted speaks the number sequences "2718" (pause) "1828". The natural base of logarithms "e" is 2.718281828...
I like math jokes. Too bad there weren't more of them.
[2021-01-07 update: I listened to this week's Reason interview on this morning's dog walk. Nick Gillespie interviewed Alex Winter, who plays Bill. Or maybe Ted. I forget. But anyway: Alex Winter is nothing like his character: he's intelligent, articulate, well-read. Which means he's a great actor, becuase you'd never get that from the Bill & Ted movies.]