This is a rather interesting idea, which has some involvement from people I know. Apparently the film is one part of a multimedia franchise that will also involve novels, comics, companion books, and maybe some other stuff. Star Trek
and comic-book authors Peter David, Bob Greenberger, and Michael Jan Friedman worked with the screenwriters to develop a "bible" for the whole After Earth
universe, which influenced later drafts of the screenplay, and are writing the tie-in books.
I agree it's high time we got to see a film where Shyamalan directed others' scripts. He has some great qualities as a director; the problems with most of his films have been in their writing. Applying his directorial skills to a script by more capable writers could produce something really good.