Our first release is at this time a total secret, however – I’m willing to say it makes “Manos the Hands of Fate” look like “Santa Claus Conquers the Martians” in a car wreck with “Eegah!” with notes of peach.
This is the comment that makes me think it may be the Star Wars Holiday Special. The other films he compares it too might be clues. "Manos The Hands of Fate" is supposed to be one of the worst films of all time. The SWHS could be considered one of the worst Star Wars associated things of all time (next to Jar Jar Binks). "Santa Claus Conquers the Martians" being mentioned means it should be some Christmas-related film with crazy stuff going on. And "Eegah!" was a film about cavemen, and cavemen kind of look like Wookies (in a way).... man-like, ape-like, and hairy. And of course the Wookies were the prominent characters in the SWHS.
Add the fact that they mention this being available in time for Christmas kind of puts the icing on the cake.
As for the Holiday Special only being available in really low quality... you should see some of the MST3K episodes. Most of the movies they watched weren't in the best shape. Some looked worse than the best looking copy of the SWHS floating around...
I just hope I'm right...