They retool the backstory. Daniel Craig's version of Bond didn't continue the storyline of the prior Bond's (i.e. Roger Moore's Bond visiting the gravesite of Teresa Bond, whom Lazenby's Bond married in a prior movie, and Timothy Dalton's Bond and Felix changing the topic when asking Dalton's Bond why he won't marry). They went through great pains in Casino Royale for the Daniel Craig Bond to have growing pains of a 00 agent, learn about a new group called Spectre, etc.
I'm sure they'll start over the Bond storyline again.