Yup, this is actually happening. Bubsy returns in this first game I believe since the absolutely atrocious Bubsy 3D launched back on the original Playstation.
At the very least, this game is going back to the 2D platforming. Now I played Bubsy and Bubsy 2 on the SNES when they first game out and while I wouldn't say that those are "bad" games, there really isn't anything special about them either.
Either way, I'm sure there are some people happy about this. Good for them.