Is it even surprising that there is such a back lash at this point?
Makes me wonder what Nickelodeon were thinking having Bay directing this. Alongside the reception of Bay's directed movies and the Platinum Dunes horror remakes (which he produced) there has been an ever-present critique of "meh" to "just plain bad". In the days of old such directors would find themselves without a job, but I suppose the world is just made up of bad decisions.
Edit:
Can I make a bet on the plot?
a) Something big and evil shows up
b) The military come in and throw fighter jets, rocket launchers and tits at it
c) The turtles solve things behind the scenes and show up about 5% of the movie