I think Aquaman works perfectly as a fantasy hero more than a superhero and I'm glad they are playing it out like that. Granted I don't want him to be completly cut off from the world outside the ocean in the DCU but I think mistakes have been made with the character when they involve him a bit too much with above water superheroics.
A proper fantasy world under the sea with races, characters, mystical weapons, evil creatures, different societies, kings, queens - and a man who is strong, smart, fast and can talk to fish - is a great set up for a fantasy story. Is as interesting (or has the potentional to be more interesting) as a sci-fi comic in outer space. The scope for storytelling is huge and I want to see this played out.
So yes, Aquaman rocks.
Whenever the issues come out anyway.