I dunno, man. They could've just explained in future MKs (Konquest and such) what happened between those times. They don't need to make a game about it. That's how I see it.
Like I said before, the story of this game seems unnecessary since they could've revealed it in future MK Konquest modes or whatever, but it definitely sounds interesting. I just hope they keep it in continuity, but it sounds like Mortal Kombat 2 Remixed or something.

REEEMIIIIIIIIIIIIX!
*Insert awful drum beat into MK2*