So is this supposed to make fun of The Covenant?

Hello and thank you for contributing - no it doesn't not make fun of any other movie. It is based on historical events in Highgate London and is an original idea.

from the cover it looks like a terrible remake of The Craft

From what I heard, it sounds like a cross between "The craft" and "The Blair witch project". So if combining two existing ideas counts as an "Original" idea I guess it is .... But to me it just sounds like a project intended to try and capitalize on the success of other films in that genre.

That's why I'll watch this

I thought maybe it was a remake of The Covenant because of the covers look similar, only made with girls this time. The covers are very similar and the title. The description didn't sound the same though. Have not seen this movie but I also loved The Covenant.

The Covenant is actually inspired by the Craft (the original of the three movies, 1996) this Coven movie is just stealing the cover idea from the Craft (which the Covenant also used) and is nothing like it's originator.
So first we have the Craft, Brilliant film, very original.
Then the Covenant was inspired to be made, cover art was replicated.
And then this Coven movie was made, but only replicated the cover art.