I enjoy this kind of math
Some variables at play to figuring out the answer to your question, but in almost every circumstance, it's better to go with the company match over anything else.
For comparison sake... let's say that you'll experience a 7% growth 'on average' and that the funds in your 401k cost you 1% more in fees vs. taking your 2% and investing on your own without the match. [so lets say 7% return outside your 401k, and 6% return inside]
Taking advantage of the 1% match on your 2% contribution would leave you with the following...
50% more right off the bat on every dollar you're putting away - $100 in is really $150 in because of match. Over time the 1% loss in fees would eat away at the compounding, but at a slower rate than that initial 50% boost. That is, after 10 years you'd have 42% more in total having gone with the company match vs. doing it on your own. After 20 years you'd be 33% better off getting the company match. After 40 years you'd still be 25% better off in total account value getting the company match than having taken your 2% somewhere else for the 7% return.
That is... even after 40 years of compounding at a lower rate because of the fee... your final balance would be 25% more if you go the company match (free 1% match) vs going at it on your own with lower fees (giving you a 1% boost). The match wins.
The real question... is can you get a better return outside your 401k investments. Maybe... but who knows? Hence why I'm using the 7% baseline here for comparison sake (if we knew what funds returned more, then we'd all be in them). I'm sure you can find the same kind of risk in the less ideal fund choices you have through this plan than what you'd find outside of it. Others might disagree. The math above doesn't change much at all for other percentages (say the control return were 5% or 10% in place of 7%)... the 10 year, 20 year, 40 year values only deviate maybe a couple points one direction or the other.
Basically... it is always worth it to get a free match from your employer. Fees or performance of the funds in the 401k factor in, but not enough to offset the free money the company is giving you.