No, this is a full reboot of the series, also Dante always had white hair, Sparda had white hair in his human form also.
I'm a little dissapointed because they are pretty much telling you to forget everything that has happened so far, I hate the new design he looks like he was taken out of that twilight movie.
Ninja Theory isn't that great of a developer either, they just made to meh to ok games and they think they are on their high horse, I read rumors long ago about Capcom about handing the franchise to them, feared the worst and today it came true.
Capcom seems to think the reason of their fail was the battle system but actually it's one of the most advanced of hack n slash I played, and the real reason a lot of people was disapointed was because they expected the new one would follow up the third entry, and were actually hyped because it would supposedly give a clear explanation of the link btw Vergil and Nero which they din't and fans were eagerly awaiting for the sequel and they come up with this crap and awful Dante that it's more of a goth/punk/pothead than the badass most people liked.
I will keep looking out for it, but my expectations are already bellow ground.