Alright, I'm starting to sense a pattern to these books: Start out funny > slow to a crawl towards the middle > character development and revelations galore in a fast paced rush to the finish. Humor is generally much less by the end.
So this book starts out funny, ha ha those silly three men trying to capture the physical form of Fear and asking for Johannes's help. The Dreamlands are such a strange place that is totally at odds with Johannes. Then they walk, and voyage and sail and explore, searching for the Phobic Animus, YAWN... But wait! This happens! Then we learn about this person! But he was him! And they were them! And! And! And! .....it's over.