That was our first thought out the theater, that it suggests a “requel” series being done in reverse, starting with Ep 3.
Something like this:
Ep 3 is Rogue One
Ep 2 the legendary Ewan McGregor Obi Wan movie
Ep 1 would be all the good bits of Lucas’s prequel trilogy edited into a single decent flick, with plenty of reshoots.
The key flaw with Lucas’s prequels is that the overexplain Anakin’s origin story. The ocean of awful pointless story lard (from Gungans to Geonosis to Trade Embargos and Tatooine visits) obscures this. My Ep 1 edit would be a bit more of an abstract establishing shot than the obvious “Fixed it” edits out there which boil it all down to that. But yes, of course, basically all of Phantom Menace has to go.