He's the strange pick that Hasbro chose to "reboot" the US Masterpiece Transformer line. He's a 4th or 5th tier character at best, not sure why on earth they chose such a random character as MP01 for the domestic relaunch.
He's one of the many "background" seeker jets (similar to Starscream, Thundercracker, and Skywarp) nicknamed the "Rainmakers", if I'm not mistaken. Hellion and nacho give many more shits than I do about him, because I happily passed on him.
I do like their new packaging though. Hopefully they'll stay consistent from here on.