Well yes and no.

1. Michael Bay actually brought something new to the table by introducing the more "realistically" redesign of classics characters. The 1st movie wasn't great but not only does it rekindle the interest of a lot of TF fans after a long hiatus but also brought in a lot of new fans for the franchise. It's just that the later movie series went downhill due to the ridiculous storyline scripting especially with AOE which is horribly infested with too many product placements and unnecessary action scenes with very little storytelling but each movie does bring in some interesting stuff whether you like it or not.

The TV Animated series does indeed aim to introduce TF to the younger generations but the producers are also kind enough to include some classical reference to the original Transformers series for older fans. Toys for this line are simplified to cater to the children ease of playing/transforming them but some of these toys are also incorporated with some very interesting engineering in order to appeal to the more mature collectors as well.

2. Hey aren't we all still kids at heart then... ? The fact that we are still discussing on this thread proves that we are still loving this franchise despite the dwindling interest. The day you stop dropping by here (or any other TF related websites) may be the day that you really are "too old" for this.

Like I have always said (Ya...ya... I sound like a broken record and have already said this many times ) It's really a double-edge-sword situation for the Transformers Franchise. You have to cater for both generations of fanbase by introducing some fresh new elements to attract newer/younger audiences yet still retain some classical elements to make it appeal to the older fans. In the end it really all boils down to personal preference and acceptance of the evolution and changes which are going on with this series.

Just my 2 cents