My guess is the 2021 F-150 is not the "14th generation" F-150 but rather a second refresh to the 13th gen (2015-present). Basing this on it appearing to have same cab.
It could be similar to the difference between 11th gen (04-08) and 12th gen (09-14), where half the components are common. One could argue 04-14 trucks are a single generation.
If it's a all-new-frame, all-new-interior, and all-new-exterior-with-new-cab...would guess Raptor won't be til 2022.
I'd bet standard 2021 F-150 is new front end, tailgate, possibly bedsides. Wheels. Some engine updates (3.0?). Interior update with 12" screen from 2020 Explorer, and anything from complete redo of interior to nearly same as present with giant-er screen option.
All this is my dumb-layman observation based on past behavior.