This is what Morrison said as a prediction to Moore's response:
They’re designed to be told over and over again. If you were an Aboriginal kid or a tribal shaman, that’s what you’d do, you’d participate in the recycling of old stories, the ‘revamping’ of characters and scenarios, the explaining away of plot holes. Some to the job with more skill than others, but if you work with Marvel, DC or other companies’ pulp fiction characters, you’re basically repainting pictures of the ancestors on cave walls.
Now I don't know about everyone else, but to me that sounds like the lamest, most piss poor way of saying "I can't really come up with genuinely original ideas anymore so I'm just going to copy someone else's idea."
Leave Watchmen alone.