In fairness, par for the course for Ford and others. The last gen of Explorer was the same subframe as a Taurus and Flex. That said, sharing some subframe and engine components does not mean it will be the same animal (drive a Flex, then get in an Explorer, what a different driving experience).
As an example from another manufacturer: Honda uses shared subframes and drivetrain components on the Odyssey, Passport, Pilot, and Ridgeline (and of course their Acura counterparts). That said, drive all 4 and they are completely different vehicles. The Passport and Ridgeline particularly, as they have larger and stiffer suspension components than the other 2 (and the Ridgeline has a 14 inch longer wheelbase than the Pilot/Odyssey, stiffening components at the bed junction, and 2 frame reinforcement rails welded under it). Yes one could say that they "share a frame" but they are again different animals.
This is not to say that an "Explorer based" Mustang might not suck, it very well may be as bad as you expect, but sharing a subframe does not dictate that it must suck and in fact may make it better than the prior gen. We won't know till they hit the road. I am willing to give it a fair shake and see how it is, despite not being a Ford buyer, not a Mustang's target audience, and thinking all Mustangs after the 1st gen are worthless.