This guy's real issue isn't his book or lacking an audience for his book. The problem is the way in which is decided to distribute it. I understand that he is looking to make a living off of monthly sales, but that was NEVER a realistic expectation to go into a venture such as this with.
While I understand that he believes monthlies are going to be his bread and butter, at this stage in his game he really needs to be focusing on selling the trades. His audience is out there, but they aren't weekly comic shop customers. They are the set that pops into a shop every so often and checks out the trades, or browses online for trades. Cape comics are what sell monthly. Anything else is going to struggle without having an established talent attached to it.