Not buying it.
With not nearly enough exceptions, deconstructions are depressing, and have a bloated sense of importance and an annoying pretense of "maturity" just because they're Grim and Gritty. Watchmen is NOT an exception, and given that these creators are reportedly out to outdo the original, they are only going to be even MORE pretentious and misery-laden, if that's possible.
Superhero deconstructions in particular seem pointless to me. Superheroes are SUPPOSED to be fantastical; you don't have to drag them through the mud to show me how "They wouldn't work that way in real life!!"