Obviously not since a lot of the people saying that 10 minutes ruined the series for them were okay with the second game's completely bad plot.
Different strokes for different folks, I guess, but I know I prefer the 99% of a story before the last 10 minutes more than that last 10 minutes.
ME2's plot was completely broken and, if you take a step back and look at it, makes no bloody sense at all.
That said, personally, I enjoyed ME2 the most out of any game in the series. Why? Because for me, sure, ME2's main plot was ten different kinds of stupid (a youtube user by the name of Smudboy has a series of videos that explain these issues far more succinctly than I can), but, frankly, I don't really care. Why? Because everything that wasn't the main plot was enjoyable to me. I liked putting together my team and building up my ship, gathering up resources to lead an impossible assault. In the end, it didn't matter to me why I was blowing up the Collector base so much as that I was simply doing it with the team I assembled, my band of brothers and sisters.
Now is that an excuse for the fact that, realistically, you could completely omit ME2 from the franchise and... ultimately, not a whole lot would be changed? No. Absolutely not. But there is a reason why ME2's plot can be stupid as hell and a good many people still enjoyed it. Because it was fun. There was drama, and action, and some dark stuff, too, but in the end, when Shepard is running and the Suicide Mission music is blaring and stuff is going boom and everyone is making it out alive, you don't care that half of what just happened didn't even logic. I didn't care about blowing up the human reaper, that wasn't an accomplishment for me. The accomplishment was putting my team of misfits together and everyone surviving, and when that happens and you beat the odds, you feel good.
ME3 doesn't have that. There is no blaring, uplifting music, it's drab and depressing. There is no sense everything and everyone you worked to put together joining forces and feeling that epic payoff, there are the exact same cutscenes of the same troops that play with mismatched audio. There is no sense of victory, you don't get that moment where you get to tell TIM to **** off like in the second game. You just accept your fate, that you're either dooming the galaxy, killing the geth, becoming an inhuman dictator, or possibly brainwashing the entire galaxy.
And because ME3's conclusion isn't uplifting, all the flaws become infinitely more poignant. You can forgive ME2's flaws because you still leave the experience behind with a big dumb smile on your face and a sense of accomplishment. With ME3, there's just this aching sense of what the hell were you fighting for all this time if it always feels like somehow you're betraying someone in the end and your gathered forces never amount to anything.
Again, I'd like to stress this is just my own experience and I know it's not the same for everyone, but I hope it illuminates that side of things a bit.