Either way, I imagine they probably plan on releasing the first version of the game on July 4, or will at least announce something on that day.
Who knows what they actually have planned, though. The screenshots they've released look really promising. For me, the lack of dynamic campaign beyond army sizes really limited the replayability of Ultimate General: Civil War. But if they can pull this game off, and I think they absolutely can, it bodes well for any future games in the gunpowder era (Napoleonics, Civil War 2, Crimean War, Wars of the 18th Century, etc)