Yeah, the game got bogged down with setpieces and story at times during the campaign when you're just itching to try out that new drill launcher you just bought. The multiplayer mode takes that nonsense away and is all about killing dudes in high scoring ways but the lack of communication (sure, you COULD get a headset but nobody does!) and the terrible netcode (Unreal Engine 3 does its best by making it nearly impossible to hit anything when the lag kicks in) take their toll on it.
I never felt a need to stick to cover though (I think I played on Hard, even), you won't die unless every ************ in the whole place gets to take pot shots at you and even then you'll last quite a while. Since the slide is about on par with Vanquish's rocket slide it's easy to run into cover, wait for the red pulsing to go away (health seems to go from zero to full instantly once it starts healing) and get back to making pricked shishkebabs. In MP it's even less problematic because even if you manage to die any other player can revive you instantly with a boot to the head.
Also if you think lining up multiple enemies in the campaign is hard you haven't seen multiplayer where even if you get them lined up some fuckwit on the other end of the map will leash one of them away.