That's still a great figure for any movie... and would have made Paramount a little bit of money after all its expenses and marketing.... but it will be seen as a failure just because it is so much less than the previous two (by almost half).

If this had been the second Transformers Movie, and earned that much back, it would be seen as an acceptable shrinkage of return (as most sequels do), and still be deemed as a very bankable franchise for future movies. Unfortunately, it put the brakes on future budgets, and scheduling (the Bumblebee movie was pushed back 6 months, and there have been no official announcements of the 2019 movie, even at SDCC, and it should have been greenlit by now).