Morrison's Red Hood was a logical evolution of Winick's Red Hood. He wasn't fodder for Batman and Robin, he was competition. He objective wasn't a personal vendetta. He was trying to compete against the new Batman for Gotham. Trying to offer Gotham an alternative protector. Even the silly suit and sidekick was about branding. It was actually a rather clever take, that i think got lost under ugly art and red hair.
Personally i like that Jason is breaking bad again, but with out a true jumping on point for it and a new voice i feel its already lacking.