I saw this i think a month or two ago, i was a bit skeptical:
"From my Chinese friends that working hard on this game from some years ... i share with you the last video preview."
This was the only video of it i saw, the comments were disabled, there were no sources or anything like that...then this line got me thinking:
"Really it will be a fantastic game for sure ... and when i see it i can tell that fan make a work better or same than official SEGA team, because this game is not less excellent than the official Street of Rage 4"
And i figured that's why it looked like a copy of SOR4's art style, but renamed it to remove reference to sega's game...very thinly veinled obviously, you can even see what is obviously axel, but i suppose they are in the process of reskinning him now...
If that is the case, a lot of reskinning will have to be made, there's so much more SOR characters (the portraits in the background, bongo, y.signal, etc, etc) that is, if, in theory, they are keeping this under wraps so as to sell it as a generic beat em up, not tied to SOR.
Oooooooooooooooor...
They are keen on how SEGA shut the Streets of Rage Remake project a few year ago, realized how polished and similar it was looking to the real SOR4, and feared SEGA, with the official game's release incoming, would draw their negative attention and shut it down.
After all, if it is a fan openbor mod, you can't sell it. But if it's such a relatively good mod compared to the official product, SEGA may fear being in a "you can't compete with free" situation.
With this in mind, it is understandable the chinese developers would not want their hard work and time to go to waste, (specially if they're the developers of bare knuckle vi, Streets of Rage Z or the Streets of Rage 4 Openbor mod from 2010, because, you could understand from their point of view, how they may feel a bit of spite that they have been spending so many years on a streets of rage sequel while SEGA completely abandoned the property, then out of the blue announced the official SOR4, stealing any possible limelight, and putting a cease and desist order for IP/Copyright infringement on the line. This is what i feel from the comment of the youtube guy...this is all speculation tho, i have no idea. I don't even know if this guy really is a friend of this supposed chinese team, this is all a wild guess, really.)
So what i think is, possibly either it will be reskinned and renamed and released as a commercial game. (I think not a likely scenario. By the way i don't mind original productions, my favorite beat em up is guardians 2 denjin makai and that's not even a licensed game, but this game in particular, i'd only play because it is streets of rage related...sure i may try it, but i wouldn't buy it...it'd seem generic and derivative to a degree, with streets of rage 4, even if it does end up being a better game, the nostalgia factor wouldn't be there for me. I'd try it. But i know i wouldn't spend any money in it...just being frank.)
Or, it will be renamed and skinned just enough to release it as a free openbor mod that passes under (or through) SEGA's radar since the name is now only a reference, the characters are obviously based on SOR's yet different enough to not outright look like them. I think this is the most likely chance, they release their hard work, SEGA doesn't feel like they are being ripped off right at the time when they are releasing their commercial game, and the chinese game, which would most likely underperform commercially as a shadow of SOR4 by the public's first impressions, would now get the recognition that it seems to want, decidedly so if it ends up being a better game than SOR4 gameplaywise (possible, we all know what openBOR and fans can do, and how projects many times surpass commercial titles from badly handled licenses.I think people would certainly support a patreon if they feel it is a genuinely good game worth backing up, just as they did rescue-palooza's and many others.), I think that'd be a positive scenario.
But...i truly have no idea and am just rambling lol