Shit’s odd. Went from not knowing about Borderlands to playing Tales, loving it, playing Borderlands 2, loving that, and living to see sequels to both. Back to not giving a damn. Full circle.
This is almost painful. Tales was one of the heights of Telltale; seeing it regurgitated like this is sad.
Why make a Tales game without the original gang, or members of it? They didn’t all appear or get fully mentioned in BL3, they had the opportunity. Call it Old Tales from the Borderlands and have it be Fiona and her crew before meeting up with Rhys. Why the fuck are you doing this at all?
I haven’t played/followed BL3 so forgive me for asking but why the fuck are we in a modern-looking city? Jack had his little paradise but it didn’t feel like if I walked out of my apartment the environment would immediately greet me.
Tales had a checklist cast—ambiguously mixed girl, two black girls, short soy boy, stupid yet charming white boy, antagonistic white man former love interest who’s an asshole. Badass antagonist female. Adorable robot companion. But despite that, they breathed beyond their appearances almost immediately. It didn’t feel like a cast put together solely for diversity points, though things maybe weren’t as streamlined in the woke factory when Tales dropped.
That aside, Borderlands already has cripples, fat chicks, and dark-skinned women. The newest addition is the non-binary looking thing I can’t make heads or tails of in this trailer—why this cast?
And I know why. Gearbox has long since been swallowed by the tides and their target demo with this bullshit eats up visual novels more than a mainline BL game but fuck.
I always wanted a proper sequel to TFTBL by Telltale. Long since let go of that pipe dream but this really is a thousand nails in the coffin. Shit’s bitter as fuck.
Short answer: this isn't made by Telltale.
Long answer:
Since you haven't played BL3, I'll try to clear it out a bit.
1) Rhys does appear in BL3 as quest giver kind. Also, he has a small appearance in New Tales trailer.
2) Borderlands 3 has people going to space now, so travel to different planets and all. As you've seen the trailer, the whole place isn't happened on Pandora, the planet for entire Borderlands before 3.
Since there are multiple Vaults and Vault Keys, not all of them are on Pandora, they are scattered around the universe.
3) The video description, it's pretty obvious what kind of story they want to write here.
4) I can't really tell you when did Gearbox gets woke, but it's pretty obvious from them since Borderlands 3. With one of the vault hunter, robot one called Fl4k is non-binary and his pronoun (they/them) is enforced on Gearbox forums. Anyone disagree/don't follow, they'll be banned.

Gearbox forums is dead now, you can't even checked multiple threads about it.
Some people would say probably around Borderlands The presequel, with how Athena's lover, Janey Spring being loudly "I'm a lesbian" first time meeting her if you are playing Athena in that game. I didn't really notice it, because English isn't my native language, the whole conversation didn't/wasn't that bad for me playing that game.
There are probably some more few progressive/woke things in Borderlands 3, but I don't notice much beside horrible story overall, me skipping all side quests don't help either. Maybe this little bit of your vault hunters compliment Ellie "fat body" looks "strong".
Then whatever the character creation in Tina Wonderlands with "Body type" instead of "Male/Female".