Cthulhu and Gaiman, sitting in a tree

Arr apostraphe ell why eee aych.... yeah...

So Neil Gaiman has posted some Lovecraftian fiction here.

Or, at least, I wanted to call it "lovecraftian" at first. Unfortunately, the more I think about it, the less I am able to differentiate between what Gaiman has done and fanfiction. Perhaps that's why it is posted on his blog?

So tell me - is this truly fanfic, or is my head unable to catch something that my gut does? Perhaps it is merely that I generally dislike the fanfic I come across and tend to think of it as intellectually lazy that I fail to acknowledge the potential for genuinely innovative, clever, and appealing fiction within the... genre?

Go read the story and tell me what you think.