Watched it off and on for the two hours, but I think I got the gist of it. There are many obvious differences, but the "feel" of the series reminded me of the original Malibu Ultraverse Night Man comic (not to be confused with that horrid television series Night Man which shared little with the comic).
The element I enjoy (and what the Night Man comic had) is the hero being a work in progress. This kind of character is a hero who barely has a clue what he's doing, but he's trying really hard to learn as he goes. In contrast, a character like Batman does not feel like someone unprepared even when he is unprepared; he comes across as just making mistakes. With Night Man and The Cape, I see it as a surprise miracle that they survived the night.
Anyway, I'll keep tuning in. It's not a show worthy of high praise, but I enjoyed it.