Also 2 and 3 were mostly bad because releasing two part movies wasn't a thing at the time and thus the films had to be forced into (unsatisfying) single-movie narrative arcs despite having an obvious overarching narrative.

Re-watching 2 and 3 as a double feature years later makes them less of a trainwreck and more of a mildly underwhelming but watchable and solid sequel to a movie so good it was impossible to follow up on. It finishes the story, literally ends the universe it created and ties up the loose ends.

On the other hand 4 is the sequel that never should have been but ultimately exists to seal the franchise permanently shut because any attempt to build on it can only be read as a soulless cashgrab because there is now literally nothing left to tell. WB didn't want to let its IP die so the Wachowskis had to drive a stake through its heart and kiss it goodbye.