In comic fiction, there's not that much difference between alternate timelines and alternate universes. It's all about the paths not taken. Infinite choices separated by the Bleed or Hypertime/Speed Force. So it's possible for the Pre-Flashpoint timeline to become a parallel Earth. Just like Red Son (Elseworlds) is now 1 of the 52 Earths of the DC multiverse.
So the old DCU can return but it won't replace the New52. It may get a title like Earth2 if enough people show interest during Blood Moon.
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