Yes, it's "non-canonical" Holmes. Yes, it takes place 20 years after Holmes was supposed to have retired to the English countryside to keep bees, and 50 years after Professor Moriarty was supposed to have (Spoiler!) drowned at Reichenbach Falls.
All valid points.
On the other hand, this is Basil Rathbone at his greyhound-lean, acerbic best. This is Holmes and Watson versus and Moriarty and the Nazis. I know which side I'd rather be on.