Why has Michael Bay declined so much from a box office perspective?

Now I understand that some acclaimed directors later in their career can make movies that don't get as positive rception as their earlier films did and therefore doesn't become as successful as previous ones but in the case of Michael Bay he was never highly regarded as a director. He made several movies that despite the fact that they didn't get that positive reception among critics or audiences people still flocked to see them. He used to be the definition of the term critic proof. In the last 10 years or so that has changed though, Transformers The Last Knight while it made a decent amount of money ended up underperforming because of its enormous budget and the fact that most of the box office came from overseas. Since then he has only made one movie which didn't end up doing that well. Why do you think this happend?