On the flipside, you're using a really artificial and D&D-specific standard, i.e. "was the change as much as 2E to 3E, 3E to 4E, or 4E to 5E?".
D&D is remarkable in that through the last 22 years, it's had much bigger rules-changes in its editions than almost any RPG on the market. Most other RPGs go through a sort of incremental change, where the rules remain largely similar, but some specific bits are tweaked. They don't fundamentally change basic approaches in the way D&D editions did (for example, all those editions have different and incompatible skill systems, saving throw systems, attack systems, HP systems, etc.). I mean, if we look at the new Hunter: The Reckoning, like the basic way the rules work, the way a character is built, and so on is extremely similar to Vampire: The Masquerade 1E back in 1991 (the biggest change is a conceptual one, which is too fiddly to discuss here).
Even oWoD to nWoD, rules-wise, is a far smaller change than any D&D edition change from 2E to 3E onwards.
And if we look at the RPG market in general, easily 95% of RPGs which have an edition change have a change more like 1E to 2E. One of the few real counter-examples would be PF1 to PF2, I note.
The general RPG standard of "edition change" is pretty small, and the edition is used to make it clear to people that whilst the rules may be largely compatible, they're not identical.
WotC are effectively attempt to flip that on its head. Which is bold. They're making significant changes, which will likely leave the rules largely compatible, but instead of highlighting that and making it clear it's an edition change, WotC are trying to bury it, and making out that it's not, it's just a continuation. It's an interesting strategy.
Realistically, this is obviously an edition-change. Even what we have so far, without anything more, is outside the range of what 3.5E did. And there's going to be tons and tons more. If it doesn't exceed the changes from 1E to 2E I'll be shocked, and that means by any normal standard, it's an edition change. It's just a reversion to the RPG norm, rather than the huge and bold changes WotC made previously.