I'm not sure I share everyones' optimism. The track record (especially with Microsoft) of new teams with absolutely no connection to the actual team that developed the original games does not exactly inspire optimism. Microsoft basically put a team together to create fantasy game, and they're calling it Fable because of brand recognition. Part of the appeal of the series was because of Lionhead Studios' unique perspective and game design philosophy.
No Peter Molyneux or any of the people from Bullfrog and the breakaway team (Lionhead Studios) which is who made Fable. It would be like Sony buying the Final Fantasy franchise and putting their own internal team together to make the next entry.
I guess we'll have to wait and see.
I mean, there aren't many Lionhead veterans that they even could hire. Molyneux's name has been dragged through the mud too much by his kickstarter failures to hire him. Dene Carter founded his own studio since then, while his brother Simon got a job with one of the top AI companies in London since then. Mark Webley and Gary Carr co-founded Two Point Studios since then, who made Two Point Hospital. The Fable 2 writer does the Middle Earth: Shadow of Series now. The Fable 3 writer got a job at Ubisoft on Assassin's Creed and The Division. The Fable 3 director got a job at 2K games as a Senior Vice President, The Executive producer of 2 and 3 is now a Chief Operating Officer at her own studio. The list goes on an on, most of the Veterans from Lionhead moved on since then.
That being said, Playground did hire a few former Lionhead devs, they just were in Junior and Intermediate positions at Lionhead rather than Senior or Lead positions. They have also hired more top devs from other studios than jut those listed in the OP. For instance the Principle Lighting Artist and Principle Technical Designer both worked at Rockstar on RDR2.
I'm not too worried about it personally. They nailed the Fable humor in the teaser trailer which is a promising sign for sure.