Do realize there are spoilers ahead, so do be cautious.
The good: The graphics, the soundtrack, the acting.
The "okay": The gameplay, the premise that "vengeance is bad"
The bad: The actual story, the characters.
Good looks can't make up for a bad story; it's like judging a book by it's cover. While the graphics and the soundtrack do have their moments, neither of these necessarily have to help make a good story. The acting definitely stood out, but like the graphics and the soundtrack, they'll only enhance the experience for the viewer. If The Last of Us series was a book, this second part would not be looked upon kindly by the same people who didn't like the story before.
New characters that were introduced weren't all too developed. They forced in hours of screentime for Abby so the player can feel pity for her. Older characters that people could recognize from the first game had undergone personality changes from the first game, many of which seem to be frowned upon by the audience. While it is understandable that Joel might want to rebuild civilization, it doesn't mean he losses his ability to be cautious around new people.
Many people who are rating this game five stars are claiming that people who don't like this game despise it for Joel's death scene. Some people do understand Joel isn't a hero and he's done pretty sinful things. It was more of how and why he died rather than the death itself (which was indeed a graphic moment in the game). His death was poorly written and it made no sense for someone who has played the first game.
The trailers were, for the most part, misleading. I, for one, was so hyped to play this game. I, for one, didn't want to believe the leaks. I, for one, should have believed the leaks if I knew I was going to be disappointed. I gave this game a low review because, while they may make the game look great, its story isn't as charming.