My issue with it isn't the Japanese-ness, it's the name. You can't argue that the company used the name to attract viewers. If it were it's own show by itself I wouldn't have a problem, but it's not, it's Spider-man. If you say Spider-man it should have some kind of connection to the series other than the iconic character. That's like making a Mickey Mouse cartoon that's really a live-action murder mystery show about a detective in a Mickey Mouse suit. You could do a show about a detective in a stuffed animal suit just as well, but by saying "Mickey Mouse Mysteries" people will watch it because of the name, and I think that's wrong.
I don't like it when producers buy the rights to something, only to redo the entire story and setup of the series but keep the logo/name of the series and have maybe one thing in common with the original source material. It shows that the creators couldn't come up with anything good on their own so they decided to ride the coat-tails of someone else.
If I went and bought the rights to, say Harry Potter, and then wrote a novel about a middle-aged indian man named Harry Potter who sells auto-insurance and somehow winds up as a hit man for the mob people would call me a rip off artist. I'd only be using the Harry Potter name to get attention, and that's what Bandai wound up doing with this project no matter how much the actual writers and creators of the show protested.
And how could you not associate it with Spider-man? He's a guy in a red spider costome shooting webs and climbing up buildings. This isn't even a "looks like a duck sounds like a duck" kind of situation.