Just bought the movie (I don't know where you go to find a $20 movie ticket, the most I've spent in the UK was £11 - and that was a 3D film), watched it, watched this review, watched the movie again.
I just don't get where the reviewer is coming from. This is a great improvement on the 1st film, in that you can tell who is fighting who. There are more robots/time of robots in screen than the first, and the human story makes sense.
The Soldiers should be pretty good at taking down robots - they're not just the US military, they're an international task-force (hence the British dudes in it) with the sole role of hunting down the Decepticons with the Transformers - and I bet they're using SABOT rounds, since it was established in the 1st film that those are effective - and the guns look quite high-tech for the most part - watch the desert battle, there are dudes with M16s but others with some sort of suppressed automatic rifles that look more like something out of ODST than standard Military gear.
The tanks should have an effect too, as a previous poster pointed out, 105mm cannons are going to pack a lot of kinetic punch - though if you watch closely you can see the Decepticons really only get knocked down from the tank/gun fire, it's the Autobot weaponry that finishes them off (apart from the odd lucky headshot).
As to why the army should be there at all...this is set on Earth. If there are bad-ass aliens that have (2 years earlier) nearly totalled one of your cities plus exterminated an entire military base, you're going to be pretty pissed off. And not be too inclined to sit around whilst said aliens keep fucking with the planet. But the inclusion of the NSA guy makes a valid point within the film - the humans are totally, and utterly, fracked without the Autobots to help them out - and the only fight scenes where the humans win also feature at least one Bot.
I didn't find the twins all that irritating - and I didn't see a racial stereotype. They struck me very much as the white jackasses that hang around in parks drinking White Lightning, yet they are pretty bad-ass when fighting Devastator.
In short I liked the film - hell, I even liked Shia in this (and I despise him on every level - he just seems to be becoming a better actor as he gets older); though I do detest his parents intensely.
Whilst the film isn't exactly true to the original story, for all the people complaining about the "stupid one-liners" - particularly "I rise, you fall" and ("One shall be left standing" from the first film) these crop up in the original animated movies/series' so I don't see why it is so annoying.
I liked the Robot designs in these films - the second film is superior to the first in that you can see *how* the robots transform (in the first film they tend to "morph"), but the second shows where everything folds into - for instance watch Bumblebee turn back into the car when Sam is considering turning himself in.
In short, the movie is, in my opinion, no where near as bad as the "review" makes out - and I am not a Bay fan, and I am a person who grew up watching Transformers. It's not an epic piece of cinema like LOTR was, but it's still a pretty epic film in that the graphics are amazing and it's engrossing for the whole 2.5 hours.
Opinions vary, clearly, but I wouldn't recommend avoiding the film entirely on the merits of critics (unless you disliked the first...in which case obviously stop watching the series that you don't like). It's worth a rental at the least (which should be cheap now - I bought my copy for £5) to see what you think of it.