Yes it's meant for children (toys? nah) and the toys are simple children's toys (what kind of world do we live in where...), but you know what? This commercial is great. Steeljaw just comes out of the sand like a monster and Bumblebee throws him in the water all while a kid looks on (and should have taken cover). That little 'yeah' from Bumblebee should have been followed by a high five or fist bump with the kid though. Sounds silly, and it is, but that old bit in the G1 commercials where the kid said 'robots in disguise' with the robot voice was often imitated on the playground.
Besides, who wouldn't like a high five?