Eyup. It's several shades below The Web of Arachnos. It's clearly not written by a player of the game, as several of the villains appear nowhere else and several existing villains are portrayed differently (Giovanna Scaldi/Vanessa DeVore are not named but are pretty obviously supposed to be them, and Doctor Vhaztok is replaced by some zombie monster).
The heroes aren't much better. Positron and Synapse are basically pure lifts of Booster Gold and Blue Beetle. Sister Psyche is mostly a crazy lady the entire book (Thanks to "The Shadow Queen" aka Scaldi/DeVore), Manticore is Batman, and Statesman spends 75% of the book in a depressed funk (To be fair, he has every reason to be as he's just lost his wife to old age while he's still in the prime of his life).
I really don't like it, but now-a-days? It may be easier to swallow now that the game is gone.