Feraligatr's biggest problem is that anything Feraligatr can do, Gyarados can do better. Plus, thanks to Intimidate, Feraligatr's only advantage of having a higher defense is a moot point. So yeah, Totodile is okay, just a bit lackluster. That doesn't stop him from being one of my favorite starter Pokemon, though. Squirtle is still my favorite starter because of this:
Spoiler
Also, More Ponymon!
Spoiler