The story takes place immediately following the landmark Avengers #16 in which Iron Man, Giant Man, the Wasp and (in absentia) Thor take a leave of absence from the team. Captain America remained to lead new members Hawkeye, the Scarlet Witch and her brother, Quicksilver.
Avengers #16 ended with the new team exiting Avengers mansion to meet with the press. That's right where this new series picks up. Although Waid's writing is done in the modern style, the look of the book harkens back to Marvel's early days.
The attention to detail to make this series appear like a 60s Marvel comic is impressive. What really stands out for me is the lettering! They've gone out of their way to make the book look like it's being lettered by the late, great Artie Simek who, along with Sam Rosen, lettered nearly every Marvel comic book back in the day.
Letterer Ed Dukeshire tells me the font being used here has been around for a while. But the series letterer, Ferran Delgado, takes it to a new level - aping Simek's unique balloon and tail shapes. There's no mention they're mimicing Simek but that's clearly what's being done here and it goes a long way toward achieving the look of a vintage comic from the House of Ideas.
The "Pop Art Productions" logo on the covers and classically designed letters pages help, too!