This is fantastic news for 2 big reasons.
1. James Mangold: This dude is a beast and knows how to make good movies. Logan, Ford v Ferrari, 3:10 To Yuma, Cop Land, Walk The Line, ALL BANGERS. He's currently got Indy 5 coming out too which should hopefully close the book on Indy better than Spielberg could.
2. The time period: We rarely seem to escape the time period between the prequel and sequel trilogies, and this is going allllllllll the way back to the beginning. Thats awesome because they can really run and be creative without worrying about "legacies" and making sure that timelines all match up. "New" is VERY good.
The further away we get from what we know and the closer we get to the unknown, the better. That is the new frontier for Star Wars.