These days, Marvel pumps out What Ifs every few years, usually built around the notion that one of their various Big Events would turn out differently. I didn't want to read those events the first time around, so an alternative version isn't much interest to me.
Before that, there was the '90s volume, that ran for 115 issues and was usually about some event or another going differently. Inferno, Atlantis Attacks, The Evolutionary War. Even back then, and even with the writers making sure to explain what was different, I usually didn't care. The big summer events tended to run through the Annuals, and I usually didn't buy those, so they didn't matter much to me. Most of them could best be described as "rocks fall, everybody dies." Marvel Earth, and sometimes the entire universe, always just one hairsbreath away from total annihilation, apparently.
The second volume did introduce "Mayday" Parker, aka Spider-Girl, so that's one thing it's got going for it.
Before that, the first volume ran for 47 issues across 7 years. I own two of those; besides the issue above, there's #45, by David Anthony Kraft and Ron Wilson, where the gamma bomb explosion links Rick Jones and Banner's minds, and when Rick dies from the radiation, the Hulk goes berserk. Considering the issue costs us half the Fantastic Four and 40% of the original Avengers line-up, you could probably file it under "rocks fall, everybody dies," too. It's fun to break the toys sometimes.
And then there's this issue, where the notion for Agents of Atlas started, which Iron Man showing off some "dimensional transporter" he built that lets them spy on other timelines and worlds. Yes, 30 years before Civil War, Iron Man was invading your privacy under a flimsy pretext. Basically, Jimmy Woo puts together a team to protect (and rescue, when protecting fails) President Eisenhower from Yellow Claw.
The roster is different from what Parker and Kirk would use. 3-D Man's in there (though Parker would eventually add the current 3-D Man/former Triathlon in the very short-lived Atlas series), and while Namora leads them to M-11 (not given a name here, much chattier), she begs off to search for Namor. Who is, presumably, roaming the streets of New York as a bum, waiting for Johnny Storm to singe his beard off. Marvel Boy convinces Gorilla Man to come along by promising to search for a way to make him human again with Uranian science, because Ken's too afraid to even be on the same continent as his wife. The wife who ridiculed his visions of a gorilla?
Glut (or Roy Thomas, since this was his concept, shocking, I know, that Roy Thomas plumbed the depths of forgotten comics history) tries to draw parallels between the characters chosen and the ones Iron Man invited to his little picture show. Gorilla Man and Beast, M-11 and Vision, Venus and Thor, Marvel Boy and Iron Man, 3-D Man and Captain America. The '50s group even call themselves "Avengers", albeit with the absolutely terrible battlecry, "Go, Avengers, Go." Like, holy shit, I'd be embarrassed to shout that and charge into battle. I'd rather yell "SPOOOOOON!" than "Go, Avengers, Go."
Some of them feel like a stretch - 3-D Man's presented as a cocky asshole who likes to wind up Gorilla Man with comments about his smell, which just screams "Hawkeye" - and I can't decide whether Thomas and Glut picked the '50s cast to conform to a current Avengers roster, and that's why Namora didn't stick around, or those were just the Golden Age characters they wanted to use, and they picked Avengers to match.
Also of note, Woo brings them together, it's his arch-foe that's the mastermind behind the plot, he's the one that tracks the villains after they escape with the President, but he doesn't really get acknowledged as part of the team. There's no one pointed to as his parallel among the Avengers. I think Parker makes him the Captain America of the Agents, the driving force that unites them, with enough courage and skill this disparate bunch will follow his lead.










