If you like Watchmen then you'll understand at its core it is a comic about the comic medium and the comics industry. And for the past 20-or-so-years it has cast an incredibly long shadow over the DC Universe (and it has unavoidably been a part of the DC Universe since Moore wrote it; it has influenced DC like no other work). You like Watchmen because it's its own story but the truth is, Watchman was created because of DC (and the industry as a whole); it literally doesn't have anywhere near the same impact as it would have if the statement that 'it was its own story' is true. It isn't missing the point, it is exactly the point.
To thieve a good Reddit comment about Rebirth...
DC is using the Watchmen-verse as a symbol for the bad lessons comics writers took in the wake of Moore and Miller et al in the 80's. The attitude that "dark and gritty" was a substitute for actual good stories, or Didio's silly attitude about how miserable heroes are more interesting.
This whole issue was about meta-narrative."
Also, DC Comics has technically never had a reboot.
And the reason why you dislike it – it's wonderful and weird backlog of 75-years worth of comics – is precisely why it is a completely unique prospect that appeals to me. "[T]he DCU is one massive story, perhaps one of the biggest unending sagas humanity has ever told (yes, that includes As the World Turns). It evolves over time, but it hasn’t ended."
Also, there are plenty of stories within Rebirth that stand completely alone and are incredibly accessible.