I have zero fan loyalty to the Fable name. You're not wrong about them. I enjoyed Fable 1 for what it was at the time: a rather okayish-to-mid simple beat 'em up Action RPG with some silly, extraneous trappings laid overtop of it. But here's the thing. Even a middling game from that era trumps the trash they're putting out now. I realize that more and more as time goes on. The games we would have turned our noses to then deserved more than what we gave them... but that's not the point I'm trying to make right now. That's a tangent.
Fable 2 and 3 were dogshit, though, pure and simple. Bad, bad games.
Point is, even if the new Fable is just a mid but enjoyable action RPG - that's still a pretty great premise as far as I'm concerned. My fear is that'll be stuffed with pandering wokeist trash, as seems to be Microsoft's self-destructive wont these days, but if it manages to avoid that, cool.
Besides, I highly doubt there's much in common with the old games, mechanics-wise, so any disdain of the originals (however reasonable that disdain is), doesn't necessarily have to keep one from being hopeful in regards to this new entry.
I want to be cautiously optimistic about something in the gaming space, dammit.