There's good product placement, and there's shitty product placement. I thought that for the most part, the product placement in Transformers wasn't too bad, in that they tended not to shove it in your face (eBay and Nokia being notable exceptions). Then there's bad product placement, like in Bay's earlier flick The Island (USE MSN! OMG CADDILAC!), I, Robot, Blade: Trinity (yeah, she needs her iPod to kill vampires), all examples of movies that took a product or brand and slammed it in your face just because they could.
Besides, if you think about it (and yes, I'm siding with Bay in this case), he shaved a shitload off his relatively meagre budget simply by going with GMC (what was it, 3-4 million USD worth of hot cars?), money that went towards vfx, for example. Basically, I'm fine with product placement as long as it fits with the movie or game. I have no problem seeing a billboard for Coca Cola in, say, GTA (yes, I know they make up their own products), though I'd have a big problem with a Coca Cola health potion in WoW (unless they did a major rebranding push purely for the game in order for it to fit the period/atmosphere/etc).
Also, "fun" is a piss poor way of trying to ensure sales, considering the consumer market. How many well-made games, fun games, beautiful games, etc etc, got piss poor sales in the last year alone and doomed their dev houses to getting shut down? How many shitty budget titles sold a metric assload of copies?
That said, the Wii has plenty of pretty awesome titles, and not necessarily first-party, either. Plenty more third-party titles in the pipeline, too. And remember that it's still doing well in Japan. I could care less how many polies my console is pushing, or how many shader pipelines it's using simultaneously, I just wanna enjoy myself. And I enjoy the hell out of the Wii games I've played.