What's so special about Miracleman?

Over at Bendis Boards, someone dares to question the greatness of Miracleman:

I can't believe on eBay issues #2-8 are going for $19.99 individually. I only know this book in passing, but never really read it or heard much else about it other than it's an Alan Moore book. Can someone explains its significance? Is it like WATCHMEN, or better?