It failed in the 1930s because Britain and France were unwilling to take forceful action against Germany and Italy, nottomention an increasingly militaristic Japan.
Bay's penchant for designer machismo and piledriver action(not tomention wholesale product placement) doesn't sit well with the Transformers' appropriately juvenile comedy and a sub-Spielbergian suburban teen romance.
Nottomention the fact that star players might be held out of action on certain UEFA dates, due to the perceived weakness of newly-promoted UEFA opponents.