Considering the number of "original character" superhero fanfics that are basically just OMG WHAT IF SUPERMAN WENT CRAZY OR EVIL WHAT A NEW AND ORIGINAL IDEA I HAVE, I'm betting that a) a lot of people haven't heard of Miracleman and b) the ones who did completely missed the point (see also: the fans of Watchmen who started the "dark age" of superhero comics).
And really, that's EXACTLY what this reads like, is FANFIC, by an angry, unimaginative teenage boy, who thinks that his pissiness makes him EDGY and his concept is SOMETHING NO ONE ELSE HAS EVER DONE BEFORE, which makes me wonder why Grant Morrison has such kind things to say about it (Flex Mentallo MADE FUN of stupid bullshit like this), until I remember that Morrison has become such a petulant drama queen about receiving any criticism from fans online that, in an interview, he actually encouraged Joe Quesada to keep the "Brand New Day" status quo in Amazing Spider-Man, no matter how low the sales got, for no other reason than to defy the fans who hate it.