Meh, the movie was okay. I thought it was better than the first in some ways. the first was a better movie, but this was a better Transformers movie. It actually had some story apart from "Cube, robots, fight!". I'm not saying the story was great, but it's nice to have one.
Too many unnecessary humping and bodily function jokes, and the twins needed only half the role they had. In their place, put Arcee in! Or even better, how about actually introducing us to some of the other autobots? Seriously; in one scene it showed all the autobots and I saw a blue one and I thought "Who the heck is that? Has he even been in the movie before this??"
Apart from Shia, the human actors didn't seem interested in being there. Megan was even worse this time around, And the military guys seemed to only be there for novelty because of the first movie. Also, If there's another desert fight scene in the next movie
But there was a lot of good stuff too. Tons of fanservice. Soundwave, Ravage, Space Bridges, Matrix of Leadership, Insecticons, Jetfire, and Devastator were all handled wonderfully, and the larger interaction between Starscream and Megatron was excellent. The first movie was a total setup for the robots, and this time we were able to see them act by themselves.
Overall, there was a lot of untapped potential and ideas that they could put into the next movie. For example, how about a car chase, where the robot chasers and chasee change their vehicles around every turn?