Cowboy Bebop certainly didn't do Netflix's reputation any favors when it comes to adapting anime or manga into live-action. On the other hand, Alice in Borderland changed just enough from the source material to translate into a high-budget Netflix show while retaining the gist of its story and characters. Squid Game's runaway success brought more attention to Alice because of its somewhat similar death game setup, but that's about where the similarities end. In the Borderlands, the stakes are higher, the games are more unpredictable and the characters are much more fleshed out.
Alice in Borderland actually got renewed for a second season not long after the first was released, months before anyone had heard of Squid Game. The first season ended with the beach arc, one of several "shit gets real" moments in the manga with plenty more to come. The Queen of Hearts also shows her face despite her not being revealed until near the end of the story, so some differences are to be expected. Without giving away too much things start to get more Battle Royale in the next arc, so as long as we see the King of Spades in all his glory I'll be satisfied.
Netflix also released a cast announcement video featuring the cast in costume sharing their experiences and thoughts on working on the show.
I highly advise you to read the original manga by Haro Aso before the second season of Alice in Borderland drops on Netflix this December. Have you seen season 1 or read the manga? Let us know in the comments!