Turns out that was a lie. In an Entertainment Weekly article when asked about the claim, Spielberg said, “That’s not true. That didn’t happen.”
So there you have it. Michael Bay dropped Megan Fox from the third Transformers film because she hurt his feelings and he’s very petty. Looks like he did her a favor because the entire franchise is terrible. The only way I could sit through that is if I went into the wrong theater.