...BUT MAYBE IT SHOULD?
Although Snyder's film had some merit to it, such as solid casting and some good imagery - it's still easily his best film - it was also slavishly overly faithful to the graphic novel but also revelled in the violence. If anything, a fresh adaptation that was both slightly looser and also had more time to tell the story properly might have some merit.
As it stands, a TV show set thirty years after the events of the original story, presumably with the original characters missing or very old, feels a bit pointless.
It might be that the show has merit: Lindelof, for all the much-deserved criticism he gets for his handling of the J.J. Abrams Star Trek movies and Prometheus, did write some very good episodes of Lost (even if the last season had some issues) and his recent HBO project, The Leftovers, had an excellent critical and popular response. But it does feel that either an original, deconstructionist take on superheroes could have been attempted, or maybe a superhero property that hasn't had a relatively recent adaptation (such as Wild Cards).
As it stands, the purpose and appeal of this project remains somewhat head-scratching. HBO seem to planning on hitting the ground running on this project though, with the show planned to hit the screens before the end of 2019.