Not as bad as Darth Vader after seeing the Star Wars prequel movies, but close. Instead of rising up on his own and pulling together his legion of warriors as the Decepticons, he is instead inspired by and bows down to someone he calls "Master," a figure known as The Fallen. I've said it about Dr. Doom and it applies equally to Megatron, the real Megatron wouldn't call anyone "master" unless forced to, and even then he would sneer it like an insult.
They've effectively castrated Megatron into a pathetic, led-around-by-his-nose little bitch.
Not exactly the type of figure to inspire fear.