Despite the updated coloring, it probably isn’t fair or even realistic to hold the series up against contemporary comics, despite Miracleman‘s significant influence on a good deal of them. Instead, it’s best to view these stories in the context of the times, which makes it easier to see why Miracleman (or Marvelman, if you prefer) is the natural stepping stone to Watchmen, and established many of the themes Alan Moore and many creators that followed him would explore in subsequent works up through the present day.
Among the relatively few fans who have read these stories, Miracleman is often held in the same regard as seminal works like Watchmen and The Dark Knight Returns. Both of those revered miniseries debuted in 1986 and caused a seismic shift in how superhero comics, and mainstream comics in general, were created and received. It’s worth noting then that a good amount of what Watchmen and The Dark Knight Returns later touched upon and accomplished had been done four years earlier with Marvelman. If it weren’t for the legendary rights quagmire that prevented those stories from being reprinted, Miracleman would almost surely be just as celebrated and commercially successful as its successors.