Had a quick look at JustOwen's issue #1, and saw loads of random and obscure Gen1/Gen2/Euro/AMs/JP thrown in all over the place. Recognising them and trying to identify others was probably more fun than trying to work out the story itself... I didn't read through it (will do that when I get the TPB, or all four of his issues at once), but I was a bit lost with how it set itself up.
From my perusal though, it looks like a story about a person who has been abandoned by his people, is cast out, and through meeting up with a mysterious stranger, he learns something about himself that changes his whole life and destiny...
Sounds like something that could have been contained within a single issue Spotlight, but I can understand Hasbro wanting IDW to produce a multi-issue story to sell the new toy currently on shelves.