I’m conflicted because I remember (and loved) Great Illustrated Classics.
But I don’t really trust anything about this because of the everything happening.
When I was a little kid, I read quite a few simplified novels (the ones I remember best are Moby Dick and Crime and Punishment), and I think the experience was overall negative, because when I ended up reading the full books as a teen, I went in with established and largely incorrect expectations.
Adding illustrations or whatnot to the existing text of a novel or story, or doing a comic adaptation or the like imho isn't at all on par with running something through the AI mulch-machine, yeah.