im not sure if its actually the second movie, or a reboot... i mean, the only character thats the same is Dr. Serizawa. and godzilla looks kind of different from the 2014 version... idk if its just me.
The only difference I see is his spikes and the atomic glow. Other than that it's pretty much the same godzilla. A soft-reboot or remake would be a much better term, it does feel like a different movie yet it's still a sequel. Kind of like Thor Ragnarok.