For the longest time, "Watchmen" was considered an unfilmable property. It took years to get the script, visuals and story into a form that was manageable for a motion picture, let alone the rumored miniseries.
While I appreciate the talent that went into the "Watchmen Motion Comic", I can't help but think that the project just took a few weeks or months to put together in an effort to cash in on the Watchmen marketing blitz. Some bits of it are rather well done, most of it is just long and expositional, and a few parts, especially the female characterizations, are embarrassing to watch. The original "Watchmen" comic was none too kind to women, and this video is even less so.
Apart from the single baritone male voice that reads the entire comic aloud, the whole thing has one massive issue with pacing. When you read a comic book, you set your own pace. You can spend half an hour gazing at a single panel of ultra-violence, or you can blip through a dozen panels of navel-gazing introspection, it's your choice.
I suppose you can advance the DVD at whatever pace you'd like, but sometimes the voices and the animation just do not flow naturally, and the motion comic lingers over scenes that should be brief and skips over stuff that needs more visual attention.
After a while, I found myself becoming obsessed that the characters never (or seldom) blinked and their mouth movements would periodically and reliably go askew. Maybe you like the theatrical film, or maybe you don't. Maybe you like the motion comic, I know I don't. If you want the best Watchmen experience, bloated, misogynistic, dated, self-important, and yet compelling and even a little beautiful under all that blood and ick, just read the book.