Yes it's an OG bringback—just like the metallic blues—and yes it's good.
The Jordan 1 Low has always had the difficulty of living in the shadow of it's high top big bro, but there's definitely a case to be made for the Low deserving more respect. At a time when the AJ1 was Nike's on-court sneaker, this gave players a chance to let those ankles breathe. The lack of colours on the Low definitely would've hurt it's place in history—if Jordan did them in the Chicago colours then maybe history might have turned out differently?
Whatever the reason the Neutral Grey has always been a fantastic fashion crossover colourway, devoid of the bright colour pops of Michael Jordan's game-worn versions.