This is far and away the best Transformers movie; that doesn't mean much. I was entertained throughout the movie, but it is a forgettable popcorn flick. Hailee Steinfeld does a solid job. I never really felt connected with her as much as the movie tried to make me. I liked Jorge Lendeborg Jr. the most of all the human actors. He was a nerd, but not overly so. Fortunately the movie plays off of tropes without following them to a T.
The title character, Bumblebee, is the star. This transformers movie made the transformer a real character with emotion. He is far away from everything that is familiar and comes across as a scared young person in a strange land.
The fight scenes in this movie are solidly built. They are limited in scope, so they are easy to follow. The locations they are set in are also utilized well. This isn't a wide open field with hundreds or thousands of nameless fighters. They feel a bit intimate and draw you in more than most comic book fights.
I am not sure what more I could ask for from a Transformers movie, but I still feel this is an average movie.