There was a time that
The Legion of Superheroes was a big enough deal to squeeze Superboy out of his own feature. Twice. That's all way in the rearview mirror.
Unquestionably, the problems for The Legion began with
Crisis on Infinite Earths; if anybody took it in the shorts worse than Hawkman after 1986's mega-event, my vote would be for the Legion. But there's probably more going on than just the backstory-muddling.
I can't help thinking that one of The Legion's real problems is the same one that plagues the original
Star Trek: their future just isn't all that convincingly futuristic anymore. From its introduction, the Legion's environment was basically the contemporary USA with funny looking buildings, flying cars, and a few people that were supposed to be aliens, but were really just characterized as odd-looking humans. As the average comics customer has aged, that view of the future is less satisfying. It's rather like riding Disney's original Monsanto House of the Future (which debuted around the same time as The Legion), a quaint amusement, but not one that's likely to sustain a steady appetite. Not only has the advancement of technology we've witnessed in our lifetimes made the state of The Legion's future look unconvincing, correcting that problem sort of undermines the whole premise, which is another of The Legion's real problems.
If we adequately advance the technology of The Legion's environment sufficiently to accommodate a galaxy-traveling culture, technologies would almost certainly have eclipsed the abilities of all The Legionnaires (with the possible exceptions of Mon-el, Ultra Boy, and Saturn Girl). If such applications are available, why would there be a need for The Legion? Now, it's certainly possible to write stories that still let The Legion shine in such an environment, but not easy to do so on a consistent basis. It's especially difficult to consistently do so in a manner that's both convincing, and relatable.
We didn't demand quite so much out of our comics scifi back in 1958, or even 1986. But The Legion of Superheroes may be one of those ideas that the world has outgrown.
If it's not, how could it be fixed for the future?
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