OK, it's not an easy question to answer. I will try to be as subjective as I can, and will make a point form answer:
This is my opinion...others can not agree.
Pros:
1. I think that rF2 has one of the best FFB and physics
2. Some think that graphics are crap, but I think they are not bad, depending on the track/mod
3.There are a couple of events going on most of the time. Most of them are really fun.
Cons:
1. At the moment, keeping the game up to date can be a bit difficult since car mods and tracks are continuously being updated. ISI releases updates from time to time and its feels like all files/updates are scattered all over the place. One would need to have the right track/mod to play online. If you know your way around the net, you'll find whatever you need, but if not, it might be a headache
2. Quick races and "jump on server for a quick race" is a bit scarce. Only a few ppl online for quick races, but you'll always find a "few" ppl online in peak time.
3. You need a good pc to run the game, otherwise you'll have low frames per second
Conclusion:
I, and I say again I...would buy the game again and again in a blink of an eye. Despite all the issues there are, the fun I get when I race online surpasses all the problems. But I know my way around, to update the game all the time and take part in leagues, so I dont find these any issues.
So, it depends on what you are after.