Yeah, there's the occasional serious moment slipped in there (with very cheesy results), but what else would you expect? This is a movie that needs every textbook moment of the genre in order to work and, for what it's worth, Expendables 2 works surprisingly well on that basis.
It certainly isn't for everyone. I myself probably will never see it again, but enjoyed the escape from reality while it lasted. The characters are simple, the dialogue is terrible, the acting is subpar — and that's what a movie like the Expendables 2 needs. This is a guilty pleasure for the man in all of who just wants to see some explosions have a little bit of fun.