Start with what works, because it is real and what follows will be less kind.
Aliens: Fireteam Elite 2 is a well made game. It looks good, the animation is careful, the weapons carry weight, the corridors have the right texture of damp metal. Cold Iron Studios has delivered a more ambitious sequel than the first: you go from three players to four, the classes have been reworked, a fully customisable Specialist class has arrived, and the xenomorph bestiary has expanded considerably.
On the spec sheet there is little to complain about.
The problem lies elsewhere, and it is more troubling than a technical one: you do not believe a second of what it is telling you.

Let us take our time, because this is where it all turns.
The Alien universe rests on an idea science fiction cinema rarely dares: humanity is alone, and it has plateaued. No galactic federation, no alien peoples to meet, no saving technological leap. You travel slowly, in hypersleep, aboard industrial ships that leak. The computers are ugly. The printers spit perforated paper. It is a second-hand future.
Politically it is more interesting still. Three powers share colonised space in a cold war that does not speak its name.
The Three World Empire, born of the merger of Britain's Weyland and Japan's Yutani, which dragged the United Kingdom and Japan into union along with Mars and Titan. The three worlds of the name are Earth, Mars and Titan.
The United Americas, the American continent unified to counterweight the economic and military might of the former, which then launched its own colonisation.
And a third bloc, Asian, assembled on the same defensive principle.
Hold on to this detail, because it sums everything up: Weyland-Yutani holds a seat in the Three World Empire's parliament, alongside the British and Japanese prime ministers. The corporation did not infiltrate the state. It founded it.
That is the universe. Isolated, underfunded colonies, months from any help, belonging to companies that outweigh governments and will send nobody because the actuarial maths does not justify it.
In that setting the creature is not an enemy. It is a strategic accident.
Recall the canon's numbers, they are stubborn. In Alien, one specimen kills six crew members out of seven. In Aliens, it takes an entire colony turned into a hive to justify sending a marine detachment, which is decimated in the first half hour. The whole narrative rests on two properties: the creature is rare, and it is very nearly impossible to kill cleanly.
That is what makes the universe function. The xenomorph interests Weyland-Yutani precisely because it is uncontrollable and unfindable. Three superpowers quietly compete for it and none of them manages. The dramatic engine is scarcity.
Remove the scarcity and nothing is left. A xenomorph you drop in batches of thirty is no longer a state secret, it is vermin.

It makes them mobs.
The studio says so plainly: xenomorphs attack in overwhelming numbers, every room could be your last, and encounters escalate from tense standoffs to all-out war. You have stun batons for melee and pyro and electric ammo to whittle down the ranks.
Special ammunition. To whittle down the ranks. Of a creature whose blood eats through three decks of steel.
Over one session hundreds of xenomorphs go down. Not a handful in a moment of panic: hundreds, methodically, with a counter.
And the worst of it is that the game works in that register. The pacing is good, four-player co-op demands coordination, the classes genuinely complement each other. As a co-op wave shooter it is competent.
As an Alien game it does not hold.
Let us be honest, the criticism has a flaw and it should be named.
The original sin is not this game's, it dates from 1986. James Cameron's Aliens itself turned Ridley Scott's single monster into a swarm. The film already shows marines emptying magazines into clusters of creatures. The entire action branch of the licence descends from that, and it is forty years old.
So you can defend Fireteam Elite 2 as a legitimate heir of that branch rather than the other.
Except Cameron did two things this game does not. He showed his marines lose, immediately and heavily, which preserved the threat. And he produced exactly one swarm sequence in the whole film, framed by ninety minutes of mounting dread.
For Cameron the swarm is the tipping point. Here it is the gameplay loop.

The real damage is here, and it goes beyond this game.
Shot down by the hundred, the xenomorph wears out. It has been a shooter mascot, a Predator opponent, a mobile game boss, and each time a little of its charge has evaporated. Giger's creature was terrifying because you almost never saw it and could do nothing against it. It has become a 3D model you farm.
Alien: Isolation proved another way was possible, with one xenomorph, a single one, for fifteen hours, and it is the best game ever made from this licence. The demonstration was made. It was not taken up.
It is also worth naming what this game ignores entirely: the cold war between the three powers, colonies left to their fate, the corporation that prefers a profitability report to an evacuation. That is the richest political material in all of popular science fiction, and here it serves as wallpaper.

Six. It splits two things that do not weigh the same.
What lifts it: careful production, quality animation, weaponry with substance, a move to four players that genuinely enriches coordination, differentiated classes and a customisable Specialist that gives room to manoeuvre. Cold Iron Studios did the job it was asked to do.
What drags it down: a reading of the licence that contradicts what makes it unique. Scarcity replaced by numbers, invulnerability replaced by the right ammo type, fear replaced by rate of fire. And a fascinating political setting reduced to a backdrop.
If you want a solid co-op shooter to play with friends, it does the job and you will have good evenings.
If you love Alien for what Alien says, you will spend nine hours watching your favourite monster get filed under consumables. And there is no difficulty setting against that.
We are discussing it on the InsertCoins Discord, where Alien unites everyone until somebody mentions Prometheus.