It's more or less Wonderman exists but is a 70's B movie hero by some regular actor and the kid and his dad bonded through the cheesy movie. Kid also develops a mutation. Then when he was older a esteemed director like Werner Herzog wants to remake the 70's cheesefest but as a serious Oscar worthy thing and dude desperately wants to play him in the movie. Him having powers, actually being Wonderman (which he isnt) etc is all secondary.
Its essentially him cosplaying as Wonderman. Ironically the most interesting episode might have been the Doorman one, never did I ever think we would get an accurate live action version of him lol.
Anyway with the cancellation out of nowhere and them doing X-Men casting I could see him being a part of all of that instead.