Hoo boy...while I do like the first film, I'm hoping that like the first film, the trailers are solely focused on the minor thing that's going to draw people in (The video game IP's in the first, the RL IP's/Meta references for this one), and the actual film is more focused on the story it's telling.
If not, I see multiple problems here. While I like a good meta reference here and there a la' the Lego Movie (which has a really solid base with it's story and humor, so any of the references/meta jokes is icing on the cake), this film could be crammed with references and straight-up advertisements, which would honestly make it no better then the Emoji Movie. It doesn't matter if the animation is better, a slew of references/ads is still a slew of references/ads.
The other thing will all of these references and ads (especially related to the internet), this film is gonna' get dated so friggin' fast. Just look back at the original Shrek, it hasn't held up well with that. This is gonna' be worse since the net can change so much faster.