In some ways it seems that DC is revamping the characters, but dropping them in the midst of current continuity, at least with Green Lantern.
Honestly, the whole thing screams "gimmick." DC just went through Brightest Day, which reinstated Swamp Thing into the DCU. Why did they bother when they could have just held off until the reboot?
What about Grant Morrison's Batman Incorporated, which, from what I can tell, seems to have more to go than 3 more issues of story?
What about the ending of Brightest Day: Justice League Generation Lost, which heralded the return of the Justice League International?
And then there's Green Lantern, which they put a lot of effort into over the past 7 years, but they seem to want to keep some of it. How can they reboot everything, but keep big chunks of GL?
And it's only been about 2-3 years since the Legion has been rebooted, back to its pre-Crisis status quo. But, then given that the Legion had a mini-reboot in 1986 (making Superboy a visitor from a pocket universe instead of a young Kal-El, due to Crisis on Infinite Earths), a soft-reset in 1990 to wipe out Superboy totally, a total reboot in 1994 to conicide with Zero Hour, another total reboot in 2005 around the time of Infinite Crisis, and, most recently, the aforementioned reset/reboot in 2008/9 (which, honestly, began in 2007 when we first saw the "original" Legion characters reappear, moreso in late 2007/early 2008 with "Superman and the Legion of Super-Heores" story arc in Action Comics, and then fully in 2008/9 with Legion of Three Worlds). Except for the gap between Zero Hour and the "Threeboot," it seems a Legion reboot, hard or soft, occurs every 3-4 years.
Sorry, I'm rambling, but I'm definitely in the boat of loving DC's vast history and am afraid for this. DC seems to have a habit of finding ways of having their reboots come back and bite them. To be honest, it seems the biggest problem has been DC's reluctance to reboot everything (which created the infamous problems with the Legion and Hawkman in particular post CoIE and the numerous misses after Zero Hour). Reading this, again, it seems they want to keep what they feel works, jettison the rest, and hope it all works out.
I fear DC is going to make the same mistakes. At the same time, I have been waiting a long time to read Geoff Johns on Justice League, but, to be honest, while he still puts out some great stuff, Johns seems to have more misses than hits recently.