Bob, I just had a realization. Remember how foreign films critics AT THE TIME were always harping on the low budget and stilted acting of the Godzilla films from Toho? Those are considered classics of the film genre now. Could it be that the Transformers films are in a way, the American/Western version of that archetype?
Yes, I'll be the first to admit that the Transformers movie sucked. In my opinion, the first film is the only even watchable. The other two are schlocky mixes of bad jokes and action stunts by a hack director. I personally think that a good plot, taken with bits a pieces for the next movie, would be the recent Transformers Animated that ran on Cartoon Network. Yes, it was often goofy, but it took what was left of the original source material and managed to build a whole new vast universe and mythos with it.
Not every movie is going to be Citizen Kane, and not every movie is going to be Plan Nine From Outer Space. Also, yes, I share your dread of the upcoming Spider-Man reboot.