Agreed. I like where Wells is going with Kwannon, but there's still a lot to be done to differentiate her from Betsy.
I do hope Wells ignores the whole "Kwannon isn't my real name either" thing from Fallen Angels. And I'd gladly welcome a codename of her own (or a return to Revanche) and obviously her own costume and last name.
The thing is that Marvel editors probably want her to be as close as possible to Asian Betsy. This way they can have two popular versions of the same character around at the same time. Actually developing Kwannon takes a lot more work and effort.