From a commercial point of view, it has been a colossal sucess, whether people want to admit it or not. So much so that Marvel (who started deriding the relaunch the first couple of months) is rumored to be planning the exact same thing. They won't, of course, because people would accuse them of following DC's lead, but that should still tell you something...
From a creative point of view it's also been fabulous. Not a "missed opportunity" at all. Oh sure, not everything has been great, but when has it ever? Back in your precious Golden Age for every good book there were half a dozen turds. Ditto for the Silver Age. Or the Bronze Age, and so forth.
There are several books which are great and fun to read. FRANKENSTEIN, ALL-STAR WESTERN, ANIMAL MAN, THE FLASH, ACTION COMICS, BATMAN plus the others which have already been mentioned above. Oh yeah, WONDER WOMAN is actually pretty great. It's probably one of the very best comic books out there!
(Not to be snarky, but I'd love to hear what exactly did this person find objectionable about the book that his daughter couldn't read it. I mean, if he'd grabbed the first issue of CATWOMAN I guess I could see his point, but not Azzarello's WONDER WOMAN.)