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I honestly thought it was better.
The story is actually quite good this time round as opposed to only good by pokemon standards like Explorers was. It's about the same length as explorers from start to credits, and the paradise/compaion mode/levelling in base was more than enough to make up for the smaller number of pokemon.
That being said, this is coming from someone who thought the core gameplay of the series was just mediocre, and if you really liked the gameplay, you might feel the reduced content, but as for me, I stopped playing Explorers once the last post-game event was finished, so take that for what it's worth.
