I almost gave up on transformers games altogether, after all those trash movie based games. Fall of Cybertron is the first good transformers game I have played since the PS2 game based on armada. Despite the lack of Co-op campaign, it has improved upon War for Cybertron (the last game), with a better campaign, more customisable multiplayer, and the new escalation (survival co-op) mode.
The campaign takes you through both sides of the war (autobot and decepticon), leading up to the eventual escape from the dying planet cybertron. The map is quite large and tends to have many hidden things for you to discover (collectables, blueprints for weapons, easter eggs, etc.).
The multiplayer is well balanced even from the start, and teamwork is the only thing that will secure your victory. There are many parts to customise your autobot or decepticon in multiplayer from weapons, attachments, and upgrades, to chassis and individual body parts such as heads, wheels/wings, arms, shoulders, legs.
The new escalation game mode is also alot of fun, but really needs to be played with four players if you intend to survive the final wave, as the mega enemies will mow you down, and fighting off the cannon fodder alongside these can be extremely difficult.
Fall of Cybertron is easily the best transformers game this gen, and I would recommend trying it at least. A little disappointing about the lack of co-op campaign, but still very good.