I don't know about you, but it looks to me as if it has been drawn by Grant Morrison himself. And based on his own sketches for the characters in the series, something he's been known to be doing with Multiversity for quite some time.
In fact, it's definitely him.
Though he's come on a bit since his sketches for Arkham Asylum…
The other covers by Chris Burnham, Bryan Hitch and Ivan Reis follow below, as well as a six page preview of the first issue.