If you're cheap like I am, no. I don't like spending any money on movies though because I'm that cheap.
However, if you're okay with it, then I would consider it. I have seen the last three transformers movies on opening night. They're all about the same as far as story lines go. Number 4 has a ton of action and moments where it gets pretty good. The issue is that there isn't much of a plot, but does Michael Bay never has a plot.
If you want to see it in theaters but don't know if it will be worth it, go see it at the dollar theater.