I'm still half expecting it to be some kind of parallel series, or like a "Days of the Future Past" thing where the future turns out to be horrible and they have to go back to the team's early days to stop it, or something.
On the other hand, it is really cool seeing a fresh crop of heroes on the team. It should be pretty interesting to see just how much everyone has changed over the missing 5 years. And hey, the first episode has goddamn LOBO in it!