The whole thing is probably set to hit a younger generation than it's meant for, but considering that that group will one day grow up and perhaps demand some more serious mythos might pave the way for serious lovecraftiness.
What I want to know is:
Were r'lyeh the corpse-city actually ever a live one? I've scoured a lot of material in my time, and have never read anything indicating that r'lyeh has ever been anything than a dead place, built by cthulhu's more undead minions.
Speaking of minions! In this more downtoned r'lyeh there's these things bit sharp teeth and batty ears. Are they goblins or have the authors mixed in some beings of ib?
deep one inhabitants on land has been seen before, but the location of r'lyeh is within walking distance from their coast and as far as I know it should be in one of the larger oceans (the pacific?)
Since there seems to be a second revival of lovecraft on the bookselling lists again (both in gamestores and actual bookshops as I've seen within the last 3 month's), we can perhaps hope for a revival of laundry material just as well.