This was a Free Comic Book Day book, anyone else get it?
Basically, the start is a lot of flashback showing everything that happened before complete with Furman-style narrations. We also get more of these as the story progresses. The Last Autobot from #80 is around watching Cybertron and is key to the story, more on that to come later. Soundwave has reformed the Decepticon with a lot of the old G1 crowd there too.
Kup and Ultra Magnus are concerned about the Decepticon resurgence and want Optimus's approval to curbstomp them, Prime this time seems tired, of war, has become a recluse and says no. Soundwave and a few others attack a station which is an "asteroid smasher" and uses it to Soundwave patches in and controls the "asteroid smasher"... and fires it to destroy the Last Autobot
Regarding how G2 fits into this, I don't know but it appears elements will be in here. there was an image of Jhiaxus on the very first page.
On the art side....I didn't know what to expect. Wildman's art has changed so much from his early days as was made evident in the War Within mini. Instead what I got was a throwback to his Marvel art but with completely modern coloring. Combined with the writing it truly did feel like a continuation of the original Marvel run instead of a 20 years later thing.
This could be really good or really awful. The heart of the old series is here but Furman has had more than his share of misfires, but he did some great stuff in that era like Generation 2, Time Wars and Target 2006 and obviously the Matrix Quest which this story continues.