Looks like someone didn't read Phantom Stranger #0
The Council of Wizards passed sentence on the Trinity of Sin (Pandora, the Phantom Stranger, and the Question (although he hadn't become the Question yet)).
It was also set up in DC's Free Comic Day giveaway from earlier this year.
The Man with the Hat
The Girl with the Guns
And if he were to include himself - that's 7. Seven to counter the 7 Deadly Sins maybe?
Man with the Hat could be Phantom Stranger.
Pandora just showed us her guns
Make-Up could be Question
Not sure who the others might be.
As for Shazam, (I'm not going to be a stickler as it's a battle DC can't win anytime soon), I've liked the back-ups and loved this full issue.
Billy feels real for the first time ever. If I'm curious about anything from the old incarnation, it's where the Solomon, Hercules, Atlas, etc all went.
And echoing others, Frank is a joy to watch. Great art and story here. Looking forward to more.