First and foremost the game plays like the previous Cybertron games, which is a huge deal because it could have gone a totally different way. Another plus is the fact that the game has the sense to separate the story we know and love from the Bayformers series that is a huge part of the marketing. Like most, I find the Bayformers to be a huge disappointment to the franchise. However, I actually find the designs of the robots to be rather interesting, especially in the newest film. Also Thanks to Michael Bay's excessive use of stereotypes the Transformers all get rather distinctive personalities...but that has nothing to do with the game, except it means that you can use the characters from the movie that were included such as Drift, Bumblebee, and Optimus. I am also fan of the changes made to escalation mode; over 40 playable characters to choose from, customizable loadout, and a wide array of defenses you can use to help you survive the hoards. On top of that the weapons upgrades and experience points carry over between game modes.
Because the game was handed off to a new studio, there are things that inevitably suffer as they get into the swing of things. Sadly the plot was one such casualty, I'm not saying it was bad... but it wasn't great either, just sort of filler between the other two games. Another problem is the removal of competitive multiplayer. Back when War For Cybertron came out I was very skeptical that it would be any good, but then I tried out the multiplayer demo and it instantly won me over. Then in Fall of Cybertron they gave us the option to create our own transformers. So why would they think removing this feature was a good idea? Another issue, which is more of a nit-pick, is that when selecting your character you cannot look at a the alternate forms or see what class the character is, which would be useful. Also for a game that is marketed as a tie in with the movies and the main Cybertron series, it's odd there is only 4 movie characters playable, I was kinda disappointed I couldn't be the lovable Hound.
Lets start with the graphics, yes they look like they did before, but this is years later so we should get something better, especially when a game is available on the new consoles. In fact I ended up getting the game on the 360 because there was no difference between the versions. The movie story is also very sloppy, it is meant to take place after Age of Extinction, but a character who is very much dead by the end is clearly alive in the game. Also in the Cybertron half of the games you play as a very wide array of characters, but the movie levels only let you play as Drift, Bumblebee, Optimus, and a very disappointing Grimmlock section. This gives the feeling that the developers wanted to make one game, but were forced to shoe-horn in another game because the movie tie-in wasn't finished on time.
All in all I feel this game is a decent first attempt, but other studios have taken over franchises more effectively. There is some good, some bad, but it all feels like the Cybertron series still. However at the end of the day I was kinda hoping for more, so if you plan to get it then wait for the inevitable price drop and get it on a last-gen console to save even more money. I give this game a solid B, it's fun but feels like more effort could have been made.
What I want in the Future
I see this series going one of two routes, either embrace the multiverse angle (which I hope won't be the case), or just continue the story after Fall of Cybertron and bring the war to Earth. I also want a return of character creation, that could be expanded using the vast cast of already established characters, weapons, and abilities. What I really want to see is the Reach route, create a single character for story and multiplayer, have a Decepticon and Autobot campaign and the player takes the role of a recruit in the war who rises through the ranks. I would also like subclasses; as of now there are four classes: Tank, Car, Van, and Jet (I know these aren't the real names, but for the sake of argument go with it). Now imagine using a Tank in a support capacity, taking a beating while healing his teammates; or a jet more tailored for combat with less speed but more armor. Gamers have more than 4 playstyles, developers need to learn that and use it. Overall I just want to see more, we are in a new era of gaming, one where games can have 40 ending (Dragon Age Inquisition), Cars can be bigger than the entirety of last-gen games (Arkham Knight), and graphics can look almost live-action. Thus I don't think it is too much to ask that a PS4/XBox One Transformers game be unlike anything we've seen before.