It . . . could be. Who is writing it hasn't quite been sorted out yet (too many have come through, need to wait until official credits come out for that) but it is being directed by Tim Miller, whose sole previous directorial credit is Deadpool 1. That's not a great metric for a completely different kind of movie like Terminator, but he did direct Deadpool 1 pretty well, so this could be good. Linda Hamilton looks good in those shots at least.
I'm always wary of films though that choose what counts as canon and not canon. It starts diluting the stories and confusing the mythology of that series and can ruin some of the things you liked about some of the movies since some stuff is never picked up on again (I for one enjoyed Terminator Salvation and like where Terminator 3 and Salvation took the Terminator story after Terminator 2). Predators ignored Predator 2, the AvP movies wrecked the Alien (and Predator) mythos (and we have no idea what Prometheus and Alien: Covenant consider canon or not canon). The new Halloween movie counts Halloween 1 and maybe 2? But not the others, which also starred Jamie Lee Curtis, which this new one also has. It's like . . . she was in ones that don't count for this one? It's just annoying. I get why it's done, but it can be annoying and hurt the story being told.