Some 911 guys think that any Porsche that is water cooled, and does not have the engine in the back is not a real Porsche. I think they are just jealous of the 50/50 weight distribution.
The 914 started as a Porsche/VW project. The 924 was a Porsche/WV/Audi project.
What you described was the beginnings of the 924. It was an amazing car for it's time. While the 944 is a direct evolution from the 924, it is all Porsche.
Porsche 944 - Wikipedia, the free encyclopedia