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I think it's pretty much established by now that this is an Alien prequel. What's interesting is I heard in a live chat Ridley Scott only considers Aliens as the only other film in the franchise other than his to be canon. I think that's mostly because it fleshed out the company and gave it an actual name "Weyland-Yutani" or just "Weyland" so he's cribbing some stuff from it for his prequel.
I've heard Giger came back to do designs for this movie so that's awesome if he did.
Also I want more Alien and Prometheus related figures in my collection and in particular of the humans... I have mini figs of a Nostromo in his astronaut suit, one of the space jockey in its chair and I have the xenomporph both in mini and non mini versions. But I don't have any regular versions of the humans thus far. I read a certain company (I forgot which off the top of my head) got the rights to make figures from Prometheus.. and the figures being teased here look pretty good:
{Check this link out} It would be nice to also have one of the Space Jockey that's not in the chair.. just by itself standalone. I love the iris stuff for the hatches that the chair and ship come out of.
What I like about this trailer is it shows that they will show more of the mechanical workings of the space jockey and it seems like a crew member or two is going to even mutate into a space jockey or something. As far as I can tell these are probably going to be the people who leave the warning beacon that gets "mistaken" by the nostromo crew as an SOS.
But at this point I kind of feel the water has been muddied as to whether or not the company knew of that planet and what was on it. It could be only the crew in the original Alien was ignorant to that. It's kind of like with any spin\off fan writing about the colonial marines from Aliens... they make it seem like they encounter Xenomorphs of the variety the space jockeys created all the time but in the movie Aliens they didn't and they where caught off guard by something they weren't prepared for and knew nothing about. That's why they had Ripley around as an advisor... because she had actually seen one before.
The line "It's a bug hunt" likely just meant that colonists where jumpy at something they thought was an alien menace but was really just a minor bug infestation comparatively speaking.. or nothing at all like they have a blip on their radar but it is just someone's pet gerbils or something. It didn't mean they where always fighting the Xenomorphs before.