Again, I just think the iconic imagery of The Phantom should be left alone. The purple, the skulls, the jungle, the period, fighting against piracy and injustice. I don't get why people think a 70 years running comic is not popular and needs to be updated. If its not broke don't fix it and leave well enough alone.
I didn't even bother watching this, I actually forgot about it. My Dad-the real Phantom obsessor who can quote you comic number and date- said the dialogue was bad but that they did attempt to connect back, but he doesn't think the show can last as is.
Why not try making something as it is before you beg for the modern appeal? I don't think the Zane movie was 'as is' either. It had too much weird skull mysticism or something. You'd think if Crystal Skulls didn't work for The Phantom that it wouldn't work for Indiana Jones but somebody thought better! ;0)
It wasn't the action, cast, or period piece settings that hurt the 94 movie or The Shadow film, they had bad storylines, that's all.