The whole Genocide thing was lame, but lamer than the concept of it being a future Diana brought back in time - which actually is a pretty interesting idea, I think - was that reveal of it, which wasn't exciting in the least. That was an issue of craft, not concept.
Frankly, making it Knockout - and DC was right by the way, the fact that she's a Fury doesn't mean she's not a New Gods, all the Hunger Dogs have the potential to be Gods they're just stunted as a result of Darkseid's efforts - feels sort of lazy and 'inside pool' to me. I read all the stories that would have lead up to it, but most readers wouldn't have, so making a minor character from another book the big bad would have had no impact whatsoever.
DC editorial was right to squash that one on multiple levels. A pretty lame idea.