Thats how I read it.
Means no Rey movie, and a general pivot away from anything to do with the sequel trilogy.
Hell, it might even get voldemort status in Filoni's writers room and not be allowed to be referenced or mentioned in any new projects--
But it will remain canon.
Thankfully, the gap between ROTJ and the sequels allows for a lot of stories to happen in-between, and there's also leeway even between episodes of the original trilogy.
Some of that stuff is best told in anthology format akin to the recent Tales of [insert Jedi/Sith/Underworld] to tell short stories that interest fans and can develop worldbuilding (one for example was about the youth of Dooku before he turned to the dark side, another was about Yaddle the Jedi Master seen in Episode 1 and who was the same species as Yoda but was gone by Episode 2).
The recent and fantastic Maul Shadow Lord series is a great example as it takes place over just a few days on a backwater unknown planet shortly after the end of Episode 3. It there is an interesting story to tell, there's still a LOT of stuff that can be covered without even having to go near the sequels era.
Mandalorian/Ahsoka are the two closest to the sequels era since they take place after ROTJ, but even those are barely touching the subject of the sequels, with a brief mention of Project Necromancy in Mandalorian (the Palpatine cloning project) and some imperial remnant meetings including the father of the sequels-era General Hux, but that's pretty much it. Even Ahsoka changes the cards on the table somewhat by bringing Thrawn back into the fold as a potential interesting villain in the years leading to the sequels, instead of having to bring in the First Order bullshit.
The Acolyte was a terrible show, though they tried to salvage it a tiny bit by bringing in a lazy cameo of Darth Plagueis, but I still think a show like Maul Shadow Lord with a young Palpatine and his master Plagueis would tell a great story.
Then you also have a huge collection of Legends books available (they wiped everything off the table when they bought Star Wars but they've been bringing back specific things that are popular, such as Thrawn). The story of Darth Bane and his founding of the Rule of Two for the Sith would be a good story to tell, there's a lot of potentially good stories to tell without having to go anywhere near the retarded ass sequels, thankfully.