If your not fussed about the newer and ongoing ( at the time of print) series toys out on the market then you definitely skip it.
As with the original Generations book, it's in Japanese, so all it is (if you can't read Jap) is a very nice looking catalogue book. Mostly containing the current toys of the current line during that year.. as well as incoming. they sometimes present the two variations (Hasbro and Taktom), it also contains comics, some have posters ( folded in) as well as those with a toy ( at times). but those tend to be much cheaper without the toy. It also shows G1 toy pics, it depends on what is the featured character/s... Ultra Magnus, Pretenders, Rodimus....
Ill see if I can take a couple snap shots of the ones I have to help you decide if you want or not these books. For now these are old pics from the 2012 Generations book,





This is the fold out poster in that book.

Wanted AM partner Vanguard, Myclones Dirge, G1 Victory Leo, e-hobby Dark scream ( the black version), e-hobby Magnificus
Parts- AM partner Basher-side guns, G1 Actionmaster Elite Windmill's blades[I][B]