Matt Fraction was asked what "Fear Itself" is actually about. "The Red Skull discovers that Odin isn't the All Father. She frees him and is transformed into a deity for it," said the writer. The rest of the panel took comedic issue at this uncharacteristic news item in the Q and A session and chuckled at Fraction's choice.
http://www.comicbookresources.com/?page=article&id=31178
facepalm
If anyone disagrees with Fraction being the worst writer in Thor history, they don't deserve to have an opinion. Seriously.