Inspired by is not the same as based on. I don’t think that it can ever be canonical because the time period was never explored in depth by Frank Herbert himself, but I do think that the what ifs of this time period could make for a very interesting premise.
Either way, the showrunner is apparently Alison Schapker, who was also the primary showrunner for Altered Carbon, which I really liked. So I’m definitely going to give the first episode a chance :)