I think a problem with "rewatchability" is that it can vary drastically with the amount of viewings. I'm going to substitute Aliens for Transformers, because "watchable" is not a word I would use to describe Transformers.
Aliens is very rewatchable. It has tense but predictable action (the aliens kill everyone, "get away from her", etc.). Sure, it's best the first time, but Aliens only ceases to be rewatchable when you get tired of watching Aliens.
Films like Primer, Fight Club, and The Usual Suspects, are very rewatchable once, with a sharp decline afterwards. The Soze/Durden effect is incredible once. The next time, you want to watch very closely to catch all of the obvious hints that you missed. You might still miss some, but not many. By the fourth time, it's almost pointless.
It's funny, because it makes me realize that for me, "rewatchability" is in large part all about catching all the details I missed the first time around. But I'm not sure if it's like that for other people or not. And it doesn't necessarily mean that I didn't enjoy it at least once. Some things are only good once. After that, there's just no point in watching them again.
Aliens is very rewatchable. It has tense but predictable action (the aliens kill everyone, "get away from her", etc.). Sure, it's best the first time, but Aliens only ceases to be rewatchable when you get tired of watching Aliens.
Films like Primer, Fight Club, and The Usual Suspects, are very rewatchable once, with a sharp decline afterwards. The Soze/Durden effect is incredible once. The next time, you want to watch very closely to catch all of the obvious hints that you missed. You might still miss some, but not many. By the fourth time, it's almost pointless.