There’s a reason the guy on the cover to issue #1 looks a lot like Robert Townsend.
This comic spun off the 1993 Meteor Man movie. The title character would never appear in any other Marvel Comic, but Night Thrasher, Spider-Man and some Guardsmen appear in the comic.
So the question is whether this is canon? I’m going to say, “No.”
I think Marvel just used some 616 characters to help sell it.