From what I remember from their videos on G3, Makuta was sealed away at some point, right? If not, correct me, because I don’t want to rewatch the videos for that information.
Also, they neither mentioned nor denied the idea of a chronicler being present at this point in time, nor have they mentioned the name Teridax. And I don’t remember all of the lore behind the Candlehead Cult, but I’m sure it would not conflict with this idea you have…
The way they set it up, Makuta will be revived or unsealed (I can’t remember which). Having a matoran be shown with Makuta’s power/influence instead, doesn’t line up with this, unless they decide to make changes.
Also, the Candlehead Cult is not the cult that follows Makuta, it’s the Brotherhood of Makuta. The Candleheads are just going to be a group in the earth region that dislike technology (so they use candles instead of lightstones). The Brotherhood want to revive Makuta, and they work towards that with the Mask of Time, with the toa eventually being the ones to unintentionally do it for them.