It's not a reboot, but a continuation with a new Angels team, some older Angels (Drew Barrymore and Jaclyn Smith) make a cameo and they reference the others including mention a specific event that happened in the other movies.

Why do people keep throwing the word "reboot" around on obvious movie sequels?

• Remake - Is a a new version of a movie which repeats the characters and plot of the original. Basically it's a new version of the same movie, though there could still be differences. Example: Let Me In/Let the Right One In
• Reboot - Is a new version of a movie with no ties or references to the original. It's a different movie altogether. Example: Spider-Man/The Amazing Spider-Man/Spider-Man Homecoming.
• Soft Reboot - Is a sequel to the original movie though ignores other sequels that may have come afterward. Example: Halloween (2007)/ Halloween (2018)
• Sequel - Is a continuation of a movie and references events in it as well as other sequels that came before it. Example: First Blood/Rambo
• Prequel - Is a continuation of a movie who's events tie in or directly lead up to the original movie. Example: The Thing (1982)/The Thing (2011) Actually, Carpenter's The Thing (1982) was a reboot of the 1951 film The Thing from Another World.

@Innovator said:

It's not a reboot, but a continuation with a new Angels team, some older Angels (Drew Barrymore and Jaclyn Smith) make a cameo and they reference the others including mention a specific event that happened in the other movies.

Oh? VERY cool that Drew & Jaclyn have a cameo... I had NO clue it was a new team set in the same universe. From the trailers it looked like the same 'ol "reboot" formula, so there was no way to tell.