Resisting obvious insult.
Here's what I think Var, and quite honestly a lot of other people, completely missed in my original post. I'm not comparing G2 Bionicle to the entirety of G1 Bionicle. All of the comparisons I've done with the amount of story and world building have come entirely within the exact same time frame that G2 Bionicle has had (or that we can reasonably predict in the case of my assumption that the Toa will likely not be returning to the villages within the end of 2015).
My point (and keep in mind this is all my opinion) is that Lego storylines have never been intriguing because of their characters. Whenever I've gotten engaged in a Lego storyline, it's always been because of the interesting dynamic of the world that the story takes place in; be it Bionicle, Exo-Force, Knight's Kingdom, or what have you. Lego's characters just aren't engaging enough to draw me in by themselves. They need to stand on something else, and that something else is the world that is established around them.
By that train of thought, then, I don't think that's unreasonable to dismiss G2 Bionicle as a failure. Imagine that you're putting together a building project that's expected to be finished in 5 years. You notice, however, that the workers forgot to put in the foundation for the building and started trying to build the walls without it. The project may be nowhere near finished, but you'd could quite reasonably dismiss it as an impending failure. Why? The foundation, everything that the rest of the building depends on, is missing.
It's that same sort of thing here. For me, the world building is that foundation, and Lego's tried to build its characters without any sort of world to draw me in first. By the time they could get around to it, it will have already been too late. The world building has to come first, and without it, Bionicle's doomed to crash before it ever gets off the ground.