Given Bruckheimer's history of films he's produced, oh heck, lets go to IMDB for a second -
National Treasure (2004) (pre-production) (producer)
King Arthur (2004) (filming) (producer)
Veronica Guerin (2003) (completed) (producer)
"Cold Case" (2003) TV Series (producer)
"Fearless" (2003) TV Series (co-producer) (executive producer)
Skin (2003) (TV) (executive producer)
Bad Boys II (2003) (producer)
Pirates of the Caribbean: The Curse of the Black Pearl (2003) (producer)
CSI: Crime Scene Investigation (2003) (VG) (executive producer)
"Profiles from the Front Line" (2003) TV Series (executive producer)
Kangaroo Jack (2003) (producer)
"Amazing Race 3, The" (2002) TV Series (executive producer)
"Without a Trace" (2002) TV Series (executive producer)
"C.S.I.: Miami" (2002) TV Series (executive producer)
Bad Company (2002) (producer)
... aka Ceská spojka (2002) (Czech Republic)
"Amazing Race 2, The" (2002) TV Series (executive producer)
Black Hawk Down (2001) (producer)
"Amazing Race, The" (2001) TV Series (executive producer)
Pearl Harbor (2001) (producer)
... aka Pearl Harbour (2001) (UK: promotional title)
"C.S.I.: Crime Scene Investigation" (2000) TV Series (executive producer)
... aka "C.S.I." (2000) (USA: short title)
Remember the Titans (2000) (producer)
Coyote Ugly (2000) (producer)
Gone in Sixty Seconds (2000) (producer)
Swing Vote (1999) (TV) (executive producer)
... aka Ninth Justice, The (1999) (TV) (Australia: video title)
Max Q (1998) (TV) (executive producer)
... aka Max Q: Emergency Landing (1998) (TV) (USA)
Enemy of the State (1998) (producer)
Armageddon (1998) (producer)
"Soldier of Fortune, Inc." (1997) TV Series (executive producer)
... aka "S.O.F. Special Ops Force" (1997) (USA: second season title)
... aka "S.O.F., Inc." (1997)
... aka "SOF, Inc." (1997)
Con Air (1997) (producer)
Rock, The (1996) (producer)
Dangerous Minds (1995) (producer)
Crimson Tide (1995) (producer)
Bad Boys (1995) (producer)
Ref, The (1994) (executive producer)
... aka Hostile Hostages (1994)
Days of Thunder (1990) (producer)
Beverly Hills Cop II (1987) (producer)
Top Gun (1986) (producer)
Thief of Hearts (1984) (producer)
Beverly Hills Cop (1984) (producer)
Flashdance (1983) (producer)
Young Doctors in Love (1982) (producer)
Cat People (1982) (executive producer)
Thief (1981) (producer)
... aka Violent Streets (1981)
Defiance (1980) (producer)
American Gigolo (1980) (producer)
I look at that list and I see some damn fine and entertaining films there. I also see some real stinkers, but the good stuff outnumbers the crap, IMO. Also, he is a producer and not a director. Sure, he's known as the guy 'Mike Bay and all that direct like him' always work with but there is no reason to believe that this man cannot do what has been set out in that press release. He'll have the budget and he'll probably get the big talent needed to pull it off. What actor wouldn't want to do a movie like this? These things are huge vehicles for current and future stars.
The star-factor aside, Micheal Bay is not directing this film, nor should he be if Bruckheimer wants a serious take on it. Bay makes fun/action packed movies that are over-the-top. I happen to be a big Bay fan (okay, except for Pearl Harbor, that flick stank).
Putting it lightly, Bruckheimer is one of the most influencial and successful producers in Hollywood. I'd rather have him than Joel Silver (who used to be one of my favorite producers until about 4 years ago) on board for this type of movie. Different strokes and all that apply of course.