The thing this season did really well was the characters. Both Punisher and Elektra were done really well, with Punisher getting a really good origin story that actually felt natural. Plus he cooled really cool when he finally wore the skull on his chest.
The plot started well - the initial Punisher stuff, and his trial, were really good. Put I felt pretty much all of the stuff with The Hand was a bit weak, with an endless supply of faceless ninjas and the reveal that Elektra is their super warrior although it's not exactly clear why she is or what that even really means. I was really annoyed that they killed her off, especially when they really ham-fistedly foreshadowed it with the scene where she and Matt talk about running away, which might as well have had the words "ELEKTRA IS GOING TO DIE IN THE NEXT 10 MINUTES" flashing on the screen. But then they just as ham-fistedly foreshadowed that she was going to come back to life, so whatever.
I also liked that they gave Karen a lot to do, and really progressed her character.
Punisher's story also ended weak, with the big conspiracy plot (that lasted basically the whole season!) boiling down to "Clancy Brown wanted to kill Frank's family because reasons", and is never actually explained more than that.
I think the main problem with this season is that it had no real focus in it's plot. Unlike the first season, which had a clear villain, and a cleat plot, this instead has two plots that never really interact with each other and a total lack of clear villain. Is it The Punisher? Is it Stick? Is it Elektra? Is it that Ninja guy who died last year? Is it Fisk? Is it the DEA? Is it Clancy Brown? Maybe!