Yeah, this isn't New Mutants at all. Its another case of FOX doing "in-name-only" X-Men characters. At this point, its fairly obvious that no one cares less about the X-Men comics then FOX. In a time when most superhero movies have move past being ashamed of their source material and even darker stuff like the DCEU at least has characters that look recognizable, FOX still hates costumes. It also hates actually using characters that even mildly resemble the comic versions unless they absolutely have to. Deadpool is the one exception, but its also the one X-Men movie brand not being done by the same few writers/producers/etc that do every main X-Men movie.
The movie they describe is literally a movie that could be done by any studio with any license. Change the term mutant to metahuman and any company on Earth could make it. Sure, they'll stick some familiar names and maybe powers on their original characters, and we'll probably see that weird psychic bear from the NM comics and maybe a McAvoy cameo, but once again FOX basically just uses their license as a source of names and powers for characters and not much else. Plus, now its almost certain they're going to pointlessly kill some of them off. Ugh, FOX really does the worst with their licensed properties. If you're not going to do New Mutants, why bother? Its not like Fant4stic, they're not going to lose the rights to the X-Men if they don't crap out a pointless in-name-only film like new Mutants.
I'd rather they focus on the Gambit movie over this, and that is not a movie I think many people care if it gets made or not at this point, myself included.