It's a mutt, but often a very, very productive one. Although hatcheries may give these mixes/mutts/hybrids "names" it is just to differentiate one mix from another. To be a breed, a bird has to bred to BE that breed and only that breed.
If you're after egg layers? I'd say you'll probably like your new birds very much. Of course, when hatching eggs, the odds are you'll also end up with bunch of cockerels.