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... I would argue that one bad comic book can nearly deep-six an entire company, especially when the book in question is the flagship title of the line.
No, not everyone shares the same opinion of this story, and no, we don't know for sure how it will turn out, but a) every single one of the most widely circulated rumors about how it would turn out have been proven correct so far, and b) the vast majority of response online - and the response I've heard offline, from my area retailers and fellow shopgoers - has been negative so far, and the negativity cuts across all lines of fandom. Whether the fans prefer 616 or Ultimate, "classic" Marvel or the Quesada era, even single or married Spidey, almost all the responses to this story that I've seen have included some variation of "This is unbelievably, unforgivably stupid."
Hell, you should be as pissed about this as anybody, because if this was Paul Levitz dictating an Authority storyline to Mark Millar, I'm pretty sure you'd be the first one to call bullshit.
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....that after one more issue of a four-issue arc dealing with one franchise character and two of his supporting cast, the books get a creative overhaul with new writers and artists, many of whom are very well regarded by the industry and fandom. One More Day is not so much a story as a means of clearing the decks for new writers; like Avengers Disassembled, it may be a bad story, but it'll give the future creators a clean slate to write on, and probably increase commercial and critical appeal too.
The only reason I can see people dreading Brand New Day is because Spider-Man likely won't be married during it. But the book went on for over 20 years without the marriage, and I'm certain it can continue to do so fine.
( As as for the Levitz/Authority mention; apples and oranges. The JMS/Quesada thing is about the attempt to give a franchise character who appears on all kinds of merchandise a wider-ranging appeal. Whereas the Levitz/Authority thing was about censoring a self-contained and highly acclaimed title. )