This is something I didn't realise, because I figured that it must have just been something that fans called it due to it having a "water cannon" looking missile launcher... but looking up its packaging, it was indeed labelled as Gen2 on the box.
Admittedly, Inferno is one that wasn't too different in Gen2 in terms of colouring, so it would have been easy enough to label an Inferno homage toy as either (or both if they wanted to be cheap with a second release).