I think he's re-contextualizing the idea. My question is why WOULDN'T I want Morrison to put his own view on the GL universe? If he's not doing that I don't see the point. If they just wanted more of the same they could have Venditti or Jurgens or any other company man on the title. I don't want to read a Morrison who is constrained very tightly by decades of conflicting and mostly forgotten ideas, I want him to have free reign to do what he wants and break molds and challenge perceptions.
I'm reading the book (I forget the title) where Frank Miller interviews Will Eisner over a period of several days. In one of their discussions Frank says (paraphrasing) "Why would I make a brilliant writer overly beholden to a story a lesser writer cranked out in a day in 1942"? That's pretty harsh and I don't totally agree (Amazing Fantasy #15 cranked out to fill pages of a cancelled title) but I do understand where he's coming from.
I hope Morrison has free reign. Change, erase, add, challenge, kill, resurrect, whatever. I don't think creators work better when they are tightly constrained, I think they work best when they have more freedom.