Who watches the allegorical not-Watchmen?

Taking a bit of a day, since I've got a headache, but from Comics Alliance, we see Grant Morrison is working on "Pax Americana," which I guess is supposed to be a Watchmen-style political allegory, set in the present, and using the original Charlton heroes--Blue Beetle, Captain Atom, and the Question; instead of Nite Owl, Dr. Manhattan, and Rorschach. Interesting...but I feel like I've heard that before...oh, yeah:





I think Grant may be able to bring more to the table than that, but using the Charlton characters just seems arbitrary. Or, more likely, DC (and possibly Morrison himself) don't think a Morrison-written sci-fi political thriller would sell by itself, that it needs to have a Watchmen connection to move copies. And this is coming from someone who's liked more than a couple versions of the Charlton heroes.

Too early to tell, though, of course; and with Frank Quitely art I am positive it'll be worth reading.