Vibe is given a relative-killing origin; that's nearly a sine qua non for a Johns revamp. Not a criticism; just stating a fact. He introduced parent-killing backstories for Hal and Barry when he brought them back as Green Lantern and the Flash. Most analyst think that's 'modern-style bloodthirst' on Johns' part. I disagree; I think it's the opposite: it's Golden Age bloodthirst. I have no doubt it was to make them feel a bit more like Golden Age characters Batman and Superman than fluffy Silver Age reduxes.
The same applies to Johns' having given a parent-killing origin to Aquaman. Although Aquaman actually has a Golden Age pedigree, almost no one has read any of those stories (where he punched holes in Nazi submarines), and popular perceptions of him come almost entirely from the Silver Age stories (where he set up fish hospitals).
[By the way, Johns isn't the only one operating in this mode; Azzarello offed Wonder Woman's mother pretty quickly as part of her re-branding as a demigod.]
Johns ties Vibe in extremely directly with Darkseid's attack that sparked the formation of the Justice League. This is so smart (classic, Johns-smart) that it almost hurts. The connection with Darkseid, the comic source of his power, and the fact that his power is completely unique immediately mark him as a major player, one that cannot be dismissed as a lightweight. Gee, a power that even the Martian Manhunter doesn't have; won't JJ be jealous!
It also marks him, as it did Cyborg, as 'natural' Justice League timber; just like the League, Vibe and Cyborg were 'created' by Darkseid's invasion. No wonder Darkseid's little outings never seem to get anywhere; he generates his own antidotes.
Brushing aside the specifics of why, Paco Ramon had two main problems as a character: people didn't take him seriously and people didn't like him.
So it's clear what John's is doing: it's imperative that he make Cisco Ramon someone who (a) must be taken seriously and (b) is likeable. And everything in issue #1 is planned to do exactly that.
Has something been lost in the process? Certainly. Whatever else one might say of Paco Ramon, he was... colorful. Vibrant. Cisco Ramon is as bland as possible.
But that's not because Johns' can't do colorful. It's because he's trying to remake Vibe as an essentially DC-type character, rather than a Marvel-type character.
Let's see: a sassy, street-wise, chip-on-the-shoulder, former criminal turned good-guy-with-an-edge, who's an ethnic stereotype with accented English, with a single in-born superpower from which his codename (a single noun) comes, heavily glossed with some pop culture phenomenon. That's got Marvel written all over it. Start writing a list of Marvel mutant characters who fit somewhere in that description and let me know when you get tired.
As much as people (including me) wouldn't want to see it or admit it, the original Vibe failed for one main reason: he was a Marvel character in the DC universe. And, over time, the DCU, like an organism fighting off viruses, rejects such characters or remakes them in its own style. Johns is trying to make darned sure that this version of Vibe is organic to the DCU, a natural and necessary part of it, rather than part of some outside invasion of from Earth-616.
As much as I miss "Paco" Ramon, if doing that helps this version of Vibe survive and possibly flourish, then Cisco Ramon has my blessing.
Although I still like to see him dance at some point. Boy's got to be able to dance.