This book is totally fine. Yes. Totally fine. There's nothing wrong with this book. It's only sin is pissing off the fandom for not being exactly what the fandom wants, the exacting way they want it. And like most hardcore fandoms, the Transformers fanbase is irrational, excitable, and self important. The concept of opinion is lost on them. If it's not their way then it's just wrong, and that's the end of the story.
This book does some cool stuff. The first issue collected here, #7 All His Engines is narrated by Megatron, and offers a fresh insight into the Deception War Machine, painting it as a totalitarian military complex completely dependent on Megatron's zeal and sheer force of will to function properly, aspects hinted at way back in Infiltration, and built upon in All Hail Megatron. We also get to see more of Starscream, now totally paralyzed by the sheer enormity of the responsibility of leadership, which I think is an interesting commentary on his overall character in the Transformers franchise.
Then we move into a character study of our main human protagonist, Spike, in a story spinning directly out of All Hail Megatron. It's nothing you've not seen before, but it does the job, and sets up a number of coming arcs that have massive ramifications.
And then we move into the four part homage to the Transformer cartoons of yesteryear. International Incident is a big, dumb, tongue in cheek send up of the absurd writing found in the original cartoon. The art style even closely mimics the style found in the cartoon from the 80s. It's a treat, if not taken seriously, and sets up more important arcs to come.
One of my personal favorite aspects of IDW's Transformer's comics is the artistic license given to their illustrators. It's an ever changing smorgasbord of eye candy. This book is no exception.
So check your expectations, ignore the whining coming from the fandom, and just have fun with it.