So this is an effort led by Jeffrey Katzenberg and Meg Whitman, which in itself is noteworthy, but then to claim a $1 Billion "seed" round is eye opening.

I'm highly skeptical with G090's failure ( which is mentioned in the article ) whether a studio(?) focused purely on bite sized content can survive, but they certainly have the funding and pedigree to attract some top level talent to give it a go for a few years.