Wow, that is cary timing, I just watched the 2017 movie on Amazon Prime this morning.
I actually really enjoyed the movie, I haven't seen the show since I was a kid so I can't judge it as a PR movie, but approaching it as a sci-fi/superhero movie, I liked it. I do have a feeling it was very different from the show, I can't really see the show having jokes about jerking off bulls, or a character arc involving sexting.
I thought they did a goof job of making the Rangers flawed, but still likeable, and the actors all did a great job. Elizabeth Bans was a lot of fun, I'm surprised there was any scenery left the way she was chewing it, but that kind of performance for a role like this. Bryan Cranston and Bill Hader were also both good, I was a bit surprised they gave Zordon the whole ulterior motive for helping the Rangers, but him giving up him giving up his one chance to come back in order to bring back Billy instead was a nice redeeming moment.
It took a bit longer to get the the action than I expected, but it was nice to get so much focus on character development, and once we got to the action I liked it.
After this I would love to see Dean Israelite take on a MCU or Worlds of DC movie.
I dunno... What the press release actually says is "a new Power Rangers movie as a follow-up to the 2017 release." Reporters seem to be jumping to the conclusion that "follow-up" means "direct sequel," but that's reading a lot into a single word. The press release is specifically pertaining to licensing plans, so it's focused more on business than storytelling or continuity. They might just mean "follow-up" in the sense of keeping the brand going as a movie property, which doesn't necessarily require keeping the same continuity (see the Batman and Spider-Man film franchises). Indeed, the original two Power Rangers feature films were in different continuities -- the first was an alternate version of the storyline that subsequently opened the third season of the TV series, while the second was in the TV continuity and was essentially the pilot for Power Rangers Turbo.
And of course, the PR/Sentai franchise has always had a loose approach to continuity anyway, with different seasons starting over with new casts and storylines that may or may not cross over with previous seasons. So a new movie could feature a new cast and characters and still be a loose continuation. There are many possibilities.
I have a feeling if it was going to be a reboot they probably would have said so somewhere in the article and probably would have tried to distance it from the '17 movie, rather than calling it a follow up, and probably wouldn't actually include a 2 in the title.