[Admiral_Young]

Most likely a third alternate reality. Slowly introducing the 52 Earth's. This is also why we're getting the J'onn/Bruce spin off series. We're seeing Clark and Bart work together, J'onn and Bruce have a close friendship in the comics. We're slowly building to the formation of the "Smallville" Justice League proper. The building of the Watchtower on the moon was a huge hint IMO. We think what we've read so far is awesome? I think all of this is just the tip of the ice berg to be honest.