I liked it back in the day. I thought it had one of the most interesting takes on Cap's Man Out Of Time aspect that no other take not even the movies replicated. Same with Thor as a God no one believed in. I remember a gag where Freddie Prinze Jr wanted to play Bruce Banner in a biopic. The Liberators were an interesting idea and having this Iranian teenager become Cap's darker foil was a great touch.
I'm not a huge Steve Rogers fan because i tend to find him and Clark Kent as comfort food characters. But this was a take on Cap i wished i got to read more off.
I wouldn't mind another shot at an Ultimate Universe relaunch but you're gonna need a better USP. I don't think "a modern take free of continuity" is gonna hold most people's interest.