Yes, that's the point. That's how the alien adapts and survives to whatever environment it's in.
The original alien only looked the way it did because we only ever saw it mix with human DNA.
That's what the alien looks like by taking on human DNA.
This is what the alien looks like by taking on Predator DNA.
It's just that we aren't used to seeing the aliens taking on other species' DNA before, because the previous films just featured humans as the alien hosts.