I read what I assume was the comic version of the story, at some point, and thought it was handled...at least better than I expected. It did a decent job with Superman as an inspirational figure rather than the Superman as simple-minded cop with infinite power he can't figure out how to use.
It's worth mentioning that the Elite's "parentage" were less "generic gritty antiheroes" as Wildstorm's "Authority," a not-altogether-terrible book for the first few issues, if you can deal with the pointless gore and the fact that every story pretty much climaxes with "let's crash the vehicle into the bad guy." It's clever, at least, and uses a gigantic scope for everything.
By what I assume was a coincidence, I watched "All-Star Superman," last night.
I was...less impressed. Maybe the comic was better (though it's Morrison, as far as I know, so even that's a crapshoot), but this was just a muddle of random ideas that pretty much bumble in and out of frame with barely any narrative to link them.
The problem with watching stuff on Netflix is that there's no physical artifact to angrily fling across the room in disgust...