"To be sure, the Transformers movies aren't regarded as being particularly good. Longtime fans of the characters railed against their "butchering" in the original film at a still-legendary pitch, and the disastrously bad (largely a casualty of a Hollywood writer's strike) sequel spurred mainstream critics (who'd mainly dismissed the original with a "well, what'd you expect?" shrug) to join in on the bashfest -- which by then had grown to encompass a more general backlash against the action aesthetic of Michael Bay. And while most agreed that the third installment was some sort of improvement, a strong vein of dismissal and disdain continued to permeate."
If the 'mainstream' audience didn't like them then there financial performance would go down rather than up.
So while 'critics' don't like them saying there's a general backlash against Michael Bay's films is wrong.
Transformers - $709,709,780
Transformers:Revenge of the Fallen - $836,303,693
Transformers
ark of the Moon - $1,123,794,079
Now proof that people do stop going to see films if they didn't like the last one
The Matrix - $463,517,383 (it's popular)
The Matrix Reloaded - $742,128,461 (it's not popular but made money because people like the first)
The Matrix Revolutions - $427,343,298 (people didn't like the last one)
Pirates of the Caribbean:The Curse of the Black Pearl - $654,264,015
Pirates of the Caribbean
ead Man's Chest - $1,066,179,725
Pirates of the Caribbean:At World's End - $963,420,425 (again no growth but a decrease as the 2nd did disappoint though not as much as the 2nd Matrix did)
Pirates of the Caribbean:On Stranger Tides - $1,045,713,802 (increase to the last as advertised with a cast and direction change but still not beating the 2nd even with 5 years of inflation plus and 3D.
The Hobbit:An Unexpected Journey - $1,017,003,568
The Hobbit:The Desolation of Smaug - $958,366,855 (small decrease as some disappointed with the first)