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This whole insistence on everything being connected to the Bayverse would be funny, if not for the fact that Lorenzo is actively hurting the movies and the franchise as a whole by following this mindset and using his power as a producer to force these restrictions.
Thanks to him, all future Transformers films now have to be set before 2007 and can't have long-term changes that'll contradict it, and Megatron (who's "supposed" to still be frozen in the Hoover Dam) and most of the other main Decepticons can't appear in major roles in the live action ones. Everybody else working on these movies wants to use those characters and go all in on moving the franchise forward with the clean slate and the goodwill that Bumblebee gave them, but they can't do that, and it's solely because Lorenzo won't allow them to.
Keep in mind, The Last Knight full on underperformed, and any future sequels in that continuity were straight up cancelled specifically in favour of continuing a new story arc with Bumblebee (which was originally meant to be a standalone prequel). Meaning the Bayverse is already effectively dead, and Lorenzo is now hindering future films to (kind of) follow its continuity for literally no reason.
(Bumblebee shows him and the other differently-designed Autobots first arriving on Earth in the 80s)
Lorenzo: It's just a little G1-esque, it's still good, it's still good!
(Transformers: Rise of the Beasts shows Unicron invading Earth in the 90s rather than being the Earth itself)
Lorenzo: It's just a little retconned, it's still good, it's still good!
(Transformers One takes place on a different-looking Cybertron with entirely new actors and character designs)
Lorenzo: It's just a little animated, it's still good, it's still good!
Fans: It's rebooted.
Lorenzo: I know.