This may be the redheaded step child of the Souls series but it is still a good game.
While I don't personally put it on the level of 1 or 3 that doesn't mean I didn't thoroughly enjoy my time playing it. It's actually the Souls game I think about replaying the most because of the large build variety that it has.
It doesn't have the world interconnectivity that 1 had and is more like a number of levels branching out from one point (your main hub) but each level is very varied, has the interconnectivness in them and are visually different and interesting.
It also has some of the best DLC of the whole series. These DLC (which are part of this edition) are actually top notch and also kick the difficulty up a notch.
There's no reason to skip this game if you've enjoyed any other Souls game.