It is a continuation of that storyline but this one is visually superior to the 1st one, imo. They do introduce Dumbledore in this one, Jude Law, beginning to attach the back story and connect the thread to the franchise.
But I am an easy please when it comes to fantasy and monsters as that is my favorite form of escapism. I need about 20 of those to every Schindler's List and I buy them and they are my most re-watched movies in the collection, the latest Godzilla, Kong, Great Wall, first Pacific Rim, are my go to's with a bowl of popcorn and the CC Time Machine cranked back to 1957 when I was 10. I categorize my monster movies into Big and Not Big, Big are the ones I listed, Not Big are the Alien movies, Relic, ID4 and Cowboys & Aliens and any than can hide. Big ones are easy, no place to hide them but those crafty aliens can hide, jump out and gitchya. Ya can't doze off during a Not Big monster movie and I don't. I look like a tree full of owls watching one.