I don't think so, it looks like a quick pitch that came along with many other possibilities. Interestingly enough, the guy who posted it said that this one was the best from the bunch he got. Yikes.
He has posted two more in the topic at assemblergames. Edit: and he found another one too. I don't mind the watermarking, I just think it's nice of him to share these.
I find it funny how the third one in the topic has no representation of the characters themselves aside from Sonic's foot.
I hate that shitty smerk he has there, it was bearable in sonic adventure 1 but the heroes version is like "fuck you"
"Help! HELP! We're trapped inside Sonic's eye!" I suppose that'd be the only thing that they would actually say. Before long, someone would stab Sonic's eye and let them out... Wow. That really was a terrible idea for a cover. It's not like it would have actually been in the full game anyway, it's a very early piece of artwork. We might as well be thanking that Dr. Robotnik doesn't wear pyjamas all the time. Or Sonic isn't called Mr. Needlemouse, especially because 'Needlemouse Generations' sounds horrible... or does it?
Naw, probably not. Whoever the creative services people had drawing/modeling the cover -- probably outside of Sega, such as the CG crew -- probably use a basic template when mocking out game covers. As for the ESRB, it's probably just what they have on their template. Usually we put 'RP' when we do stuff like this, but not everyone's the same.
What you can't see there actually is the holographic wording on the logo, which is the best part of it =P
I got kinda bored and made this in about 10 minutes based on that sketch. It's just as horrible as I imagined.
I just showed this picture to my seven-year-old brother, without any prompting of any sort, and asked what he thought. He thought it looked stupid and complained that Sonic's eyes don't match since only one of them has a reflection.