That's all true, however, most people WILL see it as nothing more than a TWD copy regardless of its quality because that's exactly what it's trailers and commercials make it look like. And also because it's on the SYFY channel, which isn't exactly known for high quality series. As a result, I'd say it's a good bet it won't have very high ratings. Especially not when it begins airing just a month before the highly anticipated and publicized next season of TWD.
IMO, they'd have done better airing the whole thing during the TWD 6-month break. Then it might have had the chance to whet the appetites of TWD fans who hate the waiting, without also having to deal with it as competition.