Title screen and box art simply say Metal Gear Solid, fans know it as Ghost Babel.
Game intro is very long
I started playing this more than a week ago, and recorded my progress, it's a cool little entry in the franchise.
Looking at how Mei Ling is introduced later in this game, as if Snake hasn't talked to her yet, I think it's fair to expect this to be the reason MGS: Ghost Babel is not part of the Metal Gear story canon.
It's a really cool entry to the franchise, and a great entry in the library of Gameboy Color/Colour games, could be easily considered one of the best games for that system, and it's really strong for what it is, especially considering the system limitations.