The pitch is:

Michael Bay making a movie about Michael Bay making a movie about Michael Bay making movies about giant space robots and an asteroid headed for earth!

The subplots are:

Tom Hanks and Meg Ryan burn through their fifth sappy romance movie together and tear apart, inflaming their families and co-workers during the remake of Tristam Shandy: A Cock and Bull Story!

A kid shatters the high score on the Donkey Kong arcade game, prompting Billy Mitchell to emerge from his grave in an unholy post mortem rampage of cannibalism!

A man attempts to write a movie script that would require an unlimited budget, but instead comes up with an infinite number of monkeys pounding at an infinite number of keyboards in an infinite amount of time!

The denouement:

The narrative winds into a single rhapsody rope-a-dope in which everyone loses. The evil robots break the fourth wall and descend through the script with the asteroid in tow to pave the way for a Super Mega Blockbuster sequel!