Marvel's ALMOST H.P. Lovecraft comics, circa '72

Did you know that emeritus Marvel Comics writer and multiverse virtuoso Roy Thomas (Conan, Avengers, X-men, etc.) once proposed a horror series based off H.P. Lovecraft's Cthulu mythos back in the 1970s (a.k.a, the coolest era of Marvel comics)?

It's true! Sean Howe, author of the astoundingly awesome and thrillingly, thouroughly researched Marvel Comics: The Untold Story posted this treatment by Thomas to his Tumblr:

Click to enlarge:

Howe says:

Here’s another glimpse at what might have been: A 1972 Roy Thomas memo proposes, among a handful of launches and title changes, a series “hosted” (a la EC’s Crypt Keeper) by the Doctor Strange villain Nightmare.
And what’s this? An anthology comic called THE MACABRE WORLD OF H.P. LOVECRAFT?!? A few months later, an issue of Journey into Mystery would feature an adaptation of Lovecraft’s “The Haunter of the Dark,” but no series ever materialized.

Oh, what might have been!