I thought it would be a bunch of modern stories within or reinterpreting the Cthulhu mythos. It's better than that. The stories all reflect some of the principles that underlay HPL's work - that there are forces that are more powerful than us, but not well disposed to us, that horrors may be glimpsed but not understood, that insanity and knowing the truth are quite similar to each other - and many use Lovecraftian tropes such as an Antarctic setting. However they do not have the HPL prose style (some may think that a mercy) or the detailed mythos.
There are stories by Michael Chabon,
Prior to this, I think the best modern Lovecraft spinoff I have read is A Colder War by Charles Stross. That's well worth a read.