So I read issue #3, and...well...
Okay, there's really nothing so wrong with this whole concept. There is really nothing fundamentally wrong with the idea of Billy becoming the Wizard and Freddy undertaking a series of trials set by the gods to succeed him as the Wizard's champion all the while evading the big bad shadowy villains. It's like a video game or a fantasy novel plotline; it's straightforward and basic and easy to explain and get into. I even thought that having Solomon be "Zally" was sort of a quirky, fresh take on the situation. It's probably not nearly as clever as Winick thinks he's being, but it's just clever enough. And it's not like they didn't warn us that magic was changing.
Why, then, does it all still feel quite so...forced? The whole tattooing thing just smacked of Winick trying to be Gen-X. We can't seem to get by a single page without the word "magic" being crammed in at least once. Yes, we get it; Winick's trying to make the Shazam mythos relevant to this day and age and he's trying to put him squarely in the world of magic. And IMO he's trying too much, too fast. I don't think Judd quite realizes how much of an attitude adjustment this requires of his readers; the backstory of Captain Marvel by its nature isn't going to age that well and had only an incidental connection to magical things. Any one of the two shifts are questionable experiments. Both of them at once should be handled delicately and with extreme caution. And Judd is doing the narrative equivalent of barrelling through, heedless of possible concerns, all the while just casually tossing out any aspect of older Captain Marvel continuity that doesn't quite conform to what he has in mind. Nevermind that a lot of those aspects were charming traits that people really liked; he only has eyes for the NEW and RADICAL and to hell with older things. It's just a bit annoying that, over in 52 with the Black Marvel Family, Johns or whoever the heck is writing them seems to be nailing a lot of the elements and traits that made the old Marvel family likeable and unique, whereas here with the Marvel family proper Judd is displaying very little of that. The worst mistake any writer can make when tackling an established character, in my opinion, is to assume that something is wrong with the character. No...there are very few intrinsically bad characters. There are, unfortunately, quite a number of writers that can write bad stories with those characters.
And worse, with every passing issue Freddy looks a bit more like Bruce Lee for some reason.
That's not to say, though, that there aren't several things to like about the series. For all his neglect of the Captain Marvel mythos, Winick is writing a decent Freddy Freeman and seems to have an admirable grasp of his psychology and desires. As much as Freddy can get by as the wide-eyed sidekick who likes Elvis, it is about high time that someone got around to exploring his life, his fears, his side of the story. The whole "hidden anger towards Billy" thing is a bit awkward and illogical (Captain Marvel didn't kill his grandpa and cripple him, Captain Nazi did! Seriously, this whole guilt-by-association thing that seems to be gripping superhero comics recently -- "You didn't stop him, so it's like you did his crimes!" or whatever -- is just getting old), but it is understandable, and it does have precedence from some of Freddy's past stories.
I'll give the issue a 7 out of 10, but that's me being extremely generous.