According to the linked article it's a re-imagining by James Corden (English comedian) for Sony and I don't think it's meant to replace the Disney animated movie. Fairy is slang for a gay male so I guess it fits in a humorous way. It's got musical elements as well apparently. Not for me in any case.
Ph'nglui mglw'nafh Cthulhu R'lyeh wgah'nagl fhtagn!
"The sky was the color of a TV tuned to a dead station" - Neuromancer