Lots of people watch movies for plot. I like special effects, too, but if that's all you can point to as a reason to watch a movie, then it's a bad movie. If you're ok with moviemakers polishing turds with flashes and booms, and support them with your wallet, then I guess you'll continue to be impressed by the slide toward more formulaic mass-market entertainment churned out by Hollywood.
You are right on the mark. Why can't we have eye/ear candy AND a plot! I watch more plot filled movies than anything else, but to me a movie like this is just a big home theater demo. Who looks for plots in demo material? It is all about the whooshing surround, and the vibrant colors, etc, etc, etc. I put Transformers into that category. A lot of bits and pieces that look (in my opinion) and sound great, but together can still be a bit if a mish/mash of things. Is that what they call a "popcorn flick?"
You know what would be worse? Putting a Michael Bay action/explosion fest together with a John Woo slow-mo, main characters never get hit despite being the best shots in the world, combination... Then again, there are some slow-mo scenes in these movies now that I think about it.
How about we set off a EMP and stop them all!