Ever since it was revealed that James Gunn would be directing and writing The Suicide Squad, fans wondered if the movie would be a sequel to the original or a reboot. Maybe even a soft-reboot, which is rarely done these days. Well, during an interview, Shazam producer Peter Safran was discussing the recent announcement of Gunn returning to Marvel and confirmed that this would be a "total reboot."
Safran was asked about the Gunn situation on JoBlo where it was confirmed that Gunn would not be quitting the DC project and that things are going over smoothly. In fact, Guardians of the Galaxy Vol. 3 will be Gunn's next movie after The Suicide Squad, which Safran said people will enjoy because it is a total reboot.
This is why there isn't a 2 on the title or a witty subtitle since it seems like Warner Bros wants fans to forget the previous movie, even though it made a ton of money despite its quality. To be honest, this is going to be kind of tricky since pretty much every DCEU movie is canon with each other. We're going to assume that this is a soft reboot.
The Suicide Squad comes out on August 6, 2021.
Read: James Gunn Will Focus On Suicide Squad 2 Before Working On Guardians Of The Galaxy Vol. 3