If I remember correctly, the late Tom Ruger spearheaded the original Red Label. Ruger wanted a strong, machine-made over and under that a buyer would be proud to own. They generally had nice wood on them.
They have their following along with their detractors, but they do tend to get snatched up pretty quickly when they appear on the used gun market. Especially the 28-gauge guns.
I just don't see this re-introduction as being a true Red Label or being successful. Remington tried and failed at least three times with the over and under after the 3200.
I hope it works out for them but when folks look at the price tag on their lever action rifles, they buy a Henry.