Smashing Pumpkins (Or At Least Billy Corgan) Back in the Studio

The Smashing Pumpkins sent out a video on their Twitter this morning, with the caption "Monday in the studio". But it only showed frontman Billy Corgan strumming an acoustic guitar and working on what appears to be a new song. New album? Hopefully it's better than their latest effort, the New Age-esque Teargarden by Kaledyscope. Check out the video here.