yes, Megatron has become an alien jet. (easier to explain than a giant-gun, mayhaps?) dunno what to make of it really ... Mecha-Predator? an elaborate jewelry-installation? a buncha bent forks-n-spoons-sculpture? or just plain awesome mecha design?
*all images shown above via servewithchips* (which also includes character descriptions of both Autobots and Decepticons) = *effin' cool*