But... it's part of the Criterion Collection! It must be good!
What I heard was that Bay and Disney (or whoever owned the rights to Armageddon at the time) negotiated the rights to other films in their catalog in exchange for including some of Bay's pics like Armageddon and The Rock in the collection. For example, Disney/Buena Vista owned Miramax at the time. So they could have said "Hey, if you want Chasing Amy or The English Patient or the Three Colors Trilogy you need to do us a favor for Michael..."
A pure prestige move on Bay's part in a bid for respectability.
I found a blog from some guy that is reviewing every movie in criterion collection. Besides the review (which is somewhat favorable!), he also lists some of the info that comes in the special features on each movie. If this doesn't pretty much sum up movies like Armageddon, I don't know what does.
"The Armadillo, the drill car they drive around on the asteroid, has a chin mounted chain gun. You might wonder when NASA started putting weapons on their vehicles, or what they were expecting to shoot at on an asteroid, or even how they expected bullets to fire in a vacuum. But in fact, this wasn't NASA's decision so much as Mattel's; there was a toy version of this car, and toys with guns sell better. I'm not kidding; plot points were decided on by the toy company."