Just a theory

I think you are right. In my honest opinion, I think we are going to see monsters that look very similar to TOHO monsters. Just like the winged MUTO whose appearance sounds like Gigan. I reckon they will pay homage and maybe like at the end of the credits there will be an addition scene showing an orginal TOHO monster. Who cares if they said they don't have the rights to any TOHO monsters besides Godzilla. They could be lying for all we know and if they did, why would they tell us? Maybe it will come as a surprise. Anyway I agree with your opinion :D

What if this movie is like, a homage to godzilla in general? What if like, it doesn't have godzilla in it at all but a new monster that just lookes like Godzilla? What if Batman shows up and flies a nuke out of the city?

#deepstuff

you know what, last night i started thinking, and i realized that the toy sounds like a wierd hybrid of gigan and megalon, and the 8 legged muto sounds like a wierd hybrid of kamucarus and kumonga, hmmmm

what if were getting a bunch of toho monsters that have all been smushed into hybrid monsters, this could allow them to pay homage to several old monsters at once, and maybe, just maybe even avoid licensing issues while doing it. it certainly sounds cool, think anguirus+baragon, rodan+titanosaus, destroyah + idk, maybe space godzilla, varan+manda! idk just a thought

What about me?

ebriah and king ghidorah! lol

I honestly think the MUTO's are all going to be dwarfed by godzilla.  I think their purpose is to make Godzilla look even more terrifying.  "Oh no!  We're being attacked by giant insect monsters!  Help!"  And then at the sight of Godzilla, "Oh my God...  We're doomed."  I think the MUTO's are going to be a lot weaker than Godzilla.  They could be the monsters we can't destroy but Godzilla literally stomps all over.  Toho might be insulted to see homages to their other monsters literally being crushed by Godzilla.  I don't think that's the message Legendary wants to send.

What is the point of Godzilla fighting another monster in this reboot if they don't even pose as a challenge or threat to Godzilla? Thats it though...THERE IS NO POINT THEN.

I wouldn't worry about that; considering that magazine article that talked about how they studied bears and komodo dragons fighting to make the monster fights, it's pretty much certain that at least one of the monsters will be a match for Godzilla.