Some good answers here and I think all are somewhat part of it. My thinking, in order of how big a part they played in the decision, is:

1. This Ghost Rider is multi-cultural. Not part of some liberal agenda or anything, just that the comics from the 40s, 50s and early 60s were very white-bread so Marvel (just like every other entity out there) is trying to get with the times. Plus it does appeal to more viewers when you represent many cultures.
2. Distance from the film version I'm sure played a big part too.
3. Part of #2 is that yes, they can still use the Johnny Blaze version later if they want to.
4. I don't think special effects played a part since he hasn't "flamed up" too much anyway.
   Reading my signature constitutes admission that I am correct. (Too late)

It wouldn't surprise me if they are using a lesser known Ghost Rider character because Marvel wants to save the better known character or characters for film projects down the line.

They went for the family vibe and this Ghost Riader has a handicapped brother.

Stay tuned for next week. They'll be racing each other

WRONG!
This is gonna be good

Will Ghost Rider drag race Lola? Im guessing not, as flying cars have been seriously underused in the MCU despite being a prominent part of SHIELD lore. They only gave us three very brief & cheesey scenes of Lola being flown in season one. Im still mad that Nick Fury didnt get to fly his unchic SUV in The Winter Soldier. If you wont do anything cool with flying cars, maybe you shouldnt have entrenched them in movie canon, Marvel?
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I'm hoping it gives Coulson car envy and he and Mack gets Lola back in working order.
They even mentioned her at the start of the episode

I suspect they simply wanted to separate it from the Nicholas Cage films. This is a different Rider. I'M cool with it so far.