Not quite. Dread looks very similar to Fusion which in itself was already a precursor to Other M, namely with the setting being shifted to a space station and an increased focus on storytelling. A fundamental mechanic of Dread are the dangerous robots which suggest similar stealth and escape sections that Fusion had with its SA-X.
After so many years it's hard to imagine that Sakamoto wants to do anything other than space stations, so his works clearly differ from the original three Metroid games and the Metroid Prime series, all of which had alien planets as their locations and were therefore much more enticing to explore than the huge chunks of metal floating in space. Dread's space station will have most likely sectors that mimic environments from Zebes, because that's what Fusion and Other M already had.
I'll buy the game, but I can't bring myself to expect much from it. The track record of Sakamoto's vision and Mercury Steam as a developer just isn't on the level that I want to see from the Metroid IP. Samus Returns was disappointing in many ways and elements of it have been infused in Dread, so once again it's looking like there's too much Sakamoto in this Metroid. It's kind of similar to how there used to be too much Aonuma in Zelda games. Basically, the guy who is at the helm doesn't like the original games much, so his interpretation of the IP strongly differs from what fans loved about the series in the first place. The trailers may even be tailor-made to mislead fans about what the game really is, deliberately showing off the more Metroid-like elements and less of the ill-conceived story direction.
If this ends up being an 8/10 game in my books, I'll be pleasantly surprised. But by the looks of it, this is a 2D game that can't be played with the d-pad, so... yeah... that's not going to be the only thing that will be off.
Looking at the trailers it looks like Metroid Dread will be mostly on a planet, not a space station.