Well, my feelings are mixed. About as mixed as mixed feelings can get, in fact.
On the one hand, I think it's a shame that DC are doing this. I fully get why Mr. Moore would not be a happy bunny about it.
Watchman could and really SHOULD, in my opinion, be left alone as its own entity. I only read it for the first time last week, and I was surprised at how much I enjoyed it. I think there's a risk that it could be chepened or damaged by trying to add anything to it.
On the other hand - some very strong talents are attached to these books. Darwyn Cooke? SOLD!
One thing's for certain: These books would ALWAYS face an uphill struggle for acceptance by fans. I'd expect DC are quite aware of that.