Kinda. Lindows didn't resemble Windows as closely as its name might suggest and played with fire with its naming. Ideally this new distro would have a custom built DE made to be as close as possible visually and functionally, yet legally distinct (which a skilled designer can easily pull off) and would not tie the branding to Microsoft or Windows in any way.
Hopefully it goes better for them than it went for Lindows. Though at least the name isn't lawsuit bait.