It doesn't really look more 200X per se, but incorperates some design elements from that version (the extra spider arms on the backpack, more eyes.) He uses the Skeletor body like the original figure did, so he lacks the spidery proportions of the 200X design. Either way though he looks pretty cool, a nice blending of design elements from both worlds.
In other news, for those not in the know, Mattel is offering a subscription service, which goes on sale near the end of May for the September-December figures, so anyone worried about not getting thier figure will be able to rest easy on the 15th of every month. Theres more details over at Matty Collector.