It's part of a series of stuff like this...new "made-for-video feature-length 'films' ". Here are 3 examples I saw in Wal-Mart tonight for under $10 each:
There are roughly 5-6 others besides these, all either lesser-known properties (Time Kid, Groove Squad) or interpretations of "classics" (Zorro, 20000 Leagues, Treasure Island).