It's the same kind of thing which turned Batman into a schizo and Superman into a US government lackey...this time it's the re-invention of classic British comic characters like Captain Hurricane and Grimley Feendish into, in these cases, a psychotic super-soldier experiment and a psychotic child-abusing criminal mastermind...ho hum, see it all before.
Moore has created some absolutely incredible work over the years but trades on the readers familiarity with the setting or the characters themselves, LOEG being the classic example. However, LOEG worked (more or less) within the basic framework of the originals (Nemo as a Hindu? Hmmmm...) This doesn't, which one would think would make it interesting. Unfortunately, it fails because, far from being a true re-invention, it instead relies on clichéd devices and the story consequently suffers.
It's Moore so people will probably buy it, it's a touch of nostalgia which is why I bought it, but it's also a (to my mind, needless) corruption of other peoples characters, which seems to me a disservice to the artists, the writers and the people who read and enjoyed these characters first time around.
Overall, reasonably enjoyable, but severely lacking in imagination, originality and cohesion.