This is better than you might think, mostly because Scott Snyder knows what he's doing, even if Manuel Garcia's pencils are not well-complemented by the inks and colors on this issue.
Then again, I would probably regularly buy a series about Captain Namor and his grumpy seafaring adventures. "Captain Namor and the Giant Squid from Dimension X"? Yeah, I'd be all over that.
Oh, and everyone dies at the end of this issue. (But not really, I bet.)
Read the REVIEW.