Different development team, but some of the people that worked on the first game is on the new team. I'm guessing they weren't the ones that made Crackdown 1 fun...
It's also been said that the original development team wanted to make a sequel, but that Microsoft waited too long to confirm if they wanted one or not, so the developers moved on to another game. They were still interested in making a sequel, though, but Microsoft picked another development team instead.
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