It seems like that's the case. Star Trek implemented an explicit branching timeline device in order to preserve the old continuity as well as building a new one from a specified branching point.

Star Wars' "Legends" moniker carries the connotation that any or all of these may or may not be 'valid,' and they aren't subject to any hierarchy other than being lumped into one group. It wouldn't make sense to publish further series into a "Legends timeline," because there isn't one. Further Legends material may be possible, but it would implicitly be up to the reader to decide how it all fits together. There isn't, the way its being handled now, a robust framework to install new Legends stories into that would build on other Legends stories. If it happens, it would be messy and ambiguous.

I'm overstating it, but my point is to distinguish this approach from Star Trek's.