I was initially angry when this series started out, with Bay at the helm bastardizing, trivializing, or outright crapping on everything I ever loved about Transformers. Then, I became cynical and annoyed with the whole thing. I'm currently at the stage of near total indifference. Unless they change the approach fundamentally (and there's no reason to do so based on box office receipts), I'm about as interested in this as I am in the Twilight or Paul Blart series. I didn't bother watching the last one, only saw bits and pieces of the 2nd and 3rd ones because my wife rented it.
Regarding a Hasbro-verse, I'm pretty sure Ninja Turtles wouldn't fit, as they weren't produced by Hasbro but Playmates. They're owned primarily (I think) by Mirage Studios, though there have been so many iterations now that I don't know who owns what. If we were to see a Hasbro-verse, it would probably be the ****** movie version of Transformers teaming up with the ****** movie version of GI Joe as they travel to a world where ****** movie versions of My Little Pony and Cabbage Patch Kids live. And those movies would probably make about a trillion dollars.