Well, I've now read the first issue, and it was OK for me, not great.
I wish Geoff had found a way to make the original setup work. I think Jerry Ordway did a great job in general of doing so even if Peter Krause's art was boring and uninteresting.
I think Billy sharing the comic with 5 other kids is a little too crowded. I'm not loving it.
I would have preferred to see an update of the original concept where Billy works for Sterling Morris at WHIZ-TV. Maybe in today's world, Billy is a blogger who becomes a social media celebrity. Then, Morris hires him as part of refurbishing the WHIZ website to reach the younger audience. Billy gets to report on issues as he did in the pre-Crisis comics, but in a modern-day context of using social media and the Internet to shine the light on events relevant to young people. The other kids can be part of the supporting cast at the website, but it should only be the classic trio with the Shazam powers. Also, Billy and Mary should be twins again.