In case many of you don't remember, this is actually the second time that Disney is attempting to adapt and/or release a film based on the Oz universe and books by L(yman) Frank Baum. The 1939 musical is a genuine classic, no objections whatsoever to its greatness, however it also shouldn't be taken as gospel: it's more inspired by Vaudeville and than Baum, who actually attempted to adapt several Oz books in the silent era.
The 1985 feature RETURN TO OZ was really the first attempt by Disney to "reboot" the franchise with award-winning editor Walter Murch adapting 2 of Baum's books, and going into a completely different direction, making his version dark and gloomy, with a traditional score rather than songs and some really disturbing imagery. However, I've always loved it, and I even think 10-year-old Fairuza Balk gives a better interpretation of Dorothy in the books. However, most critics and audiences dismissed RETURN TO OZ, yet it has slowly grown into a cult film, with many historians citing direct influences on Tim Burton and other fantasy films.
Do you really think this third attempt is going to be successful, even with Raimi at the helm? I think in this day and age, we are going to be much more accepting of a new OZ adaptation, considering the disgruntled attitude of critics back in 1985 was more about the fact there was no "joy, music, and laughter" in RETURN TO OZ even though it was dead-on accurate to Baum's world (even incorporating the original illustrations).