Deadpool has always been a character that exists to break the 4th wall first and foremost, but also because he is existentially over the top at all times. Here, in an effort to reach a different demographic he self narrates (with the help of Fred Savage) Deadpool 2 in a PG-13 way. There are no F-bombs, but there are a LOT of F-bleeps. All the while, Deadpool and Fred Savage are back in a reminiscent scene from the Princess Bride. Now this story is still Deadpool 2 which may take some viewers by surprise but it tones down a lot of what makes Deadpool... well Deadpool. I wouldn't go so far as to say it's family-friendly, but it's at least safer for a younger audience (13+). At the same time, while it is toned down, the existential content that makes Deadpool what he is is toned down as well. The humor that happens during narration helps, but it definitely loses some of the magic. Those who go to see Deadpool for the over the top behaviour may find themselves wondering what happened. Those going to see Deadpool out of his element will enjoy it simply for what it is.
Make sure to stay into and through the credits for 3 Deadpool bonus scenes, then stay beyond all of that for a special Stan Lee bonus at the very end (You'll want to bring your tissues).