Out of curiosity because it was free on my partner's Prime account, I watched this at the weekend. Complete nonsense, barely coherent and weirdly structured, but I enjoyed it a lot!
I think I mostly liked the little world-building bits and pieces; I would be up for reading the adventures of Izabella, Canopy and Skweeks in the ruins of Chicago. The part which introduced the Decepticons that Megatron was negotiating the release of was fun, as was Cuba-dwelling, volleyball-playing Topspin.
I also like that the presence of Transformers on Earth has actually had an impact over the films, and that Chicago didn't just get magically rebuilt and reoccupied.
There's still plenty to dislike, but I got more out of it than I expected.
I mentioned in my summation that the middle hour actually has a solid base for a good movie. It's completely smashed to smithereens by them taking every interesting idea from the history of Transformers and throwing it all at the screen.