Yes Christopher your right, the distinction is between Bad Robot's (JJs) universe created with Paramount (Viacom) vs. the inherited prime universe that CBS owns (after the 2006 split). That makes perfect sense. I thought you had also been referring to prime universe property, that is why I questioned it.
Back on topic, as far as this version of TFF goes. CBS needs to figure if this version would be worth it to package, market and sell it. IMO, it stands a better chance of selling than some of the repackaging of the same Star Trek films that they are always doing ( "the all new blue package of ST:TFF complete with a Sybok refrigerator magnet!"..yawn..lol)