No, it is a seperate universe to the Filmation cartoon. The prequel comic from Dark Horse (for which Kevin Smith provided the story and series writer Tim Sheridan wrote the script, so it's as official as it can get) provides the backstories of Skeletor and Evil-Lyn, and it matches what Lyn said on-screen.
I can actually recommend the comic. The art is not what you'd expect from a MotU comic book, but the story is pretty cool. It even gives the backstory of the tentacle creature sharing the dungeon with Duncan.
I can actually recommend the comic. The art is not what you'd expect from a MotU comic book, but the story is pretty cool. It even gives the backstory of the tentacle creature sharing the dungeon with Duncan.