I thought 1408 was going to be crap but it was pretty good so I'll say as much if that's the case here. But every time I look its something worse. First they pretty much admit that they're using the 'cycle' bit as an excuse to just do their own thing and barely follow the books. Then the trailers make it look like some superhero/Matrix combo . Then we find out it's about 90 minutes long. Finally they say it's PG-13. They keep on finding ways to sink lower.
And what bothers me is I look at something like Mad Max: Fury Road, Logan, pretty much anything the Coen brothers have done lately or the American Gods series on Starz and it shows that something that at minimum is faithful to the spirit of King's work was in reach. We're not talking "Make the Silmarillion into a blockbuster hit". Even worse, Frank Darabont WANTED to do DT. The guy who took a short story about monsters invading a supermarket that would have been a Syfy original movie in anyone else's hands and turned it into something that people are still talking about today. And King turned him down. So at the end of the day if this is some disaster the blame is 100% on King's shoulders.