Another fun thread to follow. Some of you guys are too much. And your reasoning seems way out there..
Fanboy goggles.
While a bit confusing as to what this could possibly be, it most likely has to be from the Netflix show. Doesn't make much sense to be a concept version.
The concept versions are from concept art from the Avengers movies. The Cap and Iron Man are not comic based, but movie based. I don't think anyone drew up a concept version of War Machine with the Punisher logo on the armor for an Avengers movie. Nor of all the Netflix heroes would the Punisher have crossed over into the movies. Both of those scenarios seem like a long shot.
And if HT was expanding their license to do Comic Book versions of Marvel characters, I highly doubt they would start with the Punisher. And the Punisher in War Machine armor to boot.
Looking forward to see what this teaser actually is...
But I stick to reason and agree with others that posted here that most likely it's just a new Netflix Punisher s2 version in body armor (not Iron Man armor) for the upcoming season beginning next week. We shall soon see...