I recently read the MOTU Fan Fiction: The Keldor Chronicles by Matthew C. Kayser. You can get it here. It takes Multiple elements from past continuities and mixes them in a coherent story. Not to mention that for a novel, it's a bit short (Approximately 170 pages), but it works as a more mature take on the MOTU uh, Universe... without the overuse of gratuitous violence, adult language and nudity that other Mature takes on MOTU have done.
I know that novels take a lot more time to write than comics, but at the same time, they don't have the restrictions as mini comics. This piece of Fan fiction feels more in tune to MOTU than Mattel's own current canon for MOTU. Reintroducing MOTU as a series of books would help return He-Man to a better status than perennial gay joke or "I remember him from the 80s." status that he currently has.
It may conflict with Mattel's plan of selling toys, but it helps the brand in the long run. I mean, HALO and Splinter Cell, both popular videogame series (that I do not like) have novels in addition to the games. The main goal of those brands is to sell games, but they have used books as a way to expand the universe... and expand their audience. Even Star Wars did it (though most of the Expanded Universe is now NOT CANON)
While this rant may seem like a half-assed plug to the fanfic mentioned above, it's not simply that. The fic, sparked the inspiration for the rant and the idea that using novels to tell the story would have been awesome... Now imagine, a world where Mattel had invested for a writer to write MOTU Stories and Subscribers would get first access to these (through the My subscriptions page of the matty site)
Perhaps Mattel could have used these to make people more excited for some of the "less loved" characters and parts of the universe. I'd rather read about a character's exploits through an actual adventure with said character than having the bio trying to force his Absolute Heterosexuality down my throat.
I'd recommend that you check out The Keldor Chronicles... It's a way better read than Justin Marks' pathetic attempt at a MOTU Movie script.