Don't get me wrong, I'm extremely excited for this, but I honestly don't think this is going to be a Protector Set revamp. At least, not yet. Due to the sheer complexity involved in creating them, full Mastercraft sets these days tend to be either expensive token packages released during summer or holiday seasons, or quests that get a significant amount of buildup beforehand.
I suspect that this questline is going to be setup for future events involving the Protectors, most likely leading into the actual Protector Set revamp when the Devourer Saga update finally gets there.
Of course, I'd also be very happy if I was proven wrong here.