I don't think this is 100% still comics. It is maybe 80% comics. I don't think this is a bad thing either.
Comics inherently have a limitation, they can't show transitions from one moment, or view, or perception, to the next. By definition, a comic shows individual moments, and we, the reader, have to create the transitions in our mind.
This Infinite thing can show those transitions happen, which is something that traditional ink and paper comics have never been able to do. In some ways, I think this makes this "not comics". It's something very close to comics, but something new, the next evolution of comics.
I'll say this: that Infinite comic would have been okay if read in print or standard guided view in the digital format. But it was GREAT because Immonen and Waid know how to tell a story in the comics medium. Indeed, I think this Infinite format has the casual reader appreciating the storytelling and the art of individual panels and pages more than they would if they read this issue in another format.
This isn't a replacement for print but it IS a far more interesting a unique way to read and experience comics digitally.
8)This format will be a place where great storytellers of the medium will be separated from those who are just great artists.