No, Michael Bay had nothing to do with BATTLESHIP, as far as I know. He's definitely not in the credits for it.http://www.imdb.com/title/tt1440129/fullcredits#cast
I would say that BATTLESHIP reminds me a lot of the first of Bay's TRANSFORMERS films though.
I really enjoyed the way they cast real life war veterans in the film. There are several war veterans attending a ceremony near the beginning of the film, one of them a WWII veteran. A war veteran who lost both his legs to an IED in Iraq plays a significant role in the film, and when the - now, pretty much a museum piece - Battleship, USS Missouri, saves the day at the end of the film, it is manned by several war veterans from the Korean, Vietnamese, and other conflicts.
I also got a kick out of the way they had the alien ships firing weapons that looked like the little pegs you use in Battleship, as well as how they worked the playing grid into the film. Plus, it had a lot of good, humourous moments in it.
The film was just good, old-fashioned, fun in my opinion. Nothing to take too seriously - a great popcorn flick.