Can someone explain DC UNIVERSE: REBIRTH to me?

DC Rebirth is a 2016 relaunch by DC Comics of its entire line of ongoing monthly superhero comic books. Using the end of The New 52 initiative in May 2016 as its launching point, DC Rebirth is intended to restore the DC Universe to a form much like that prior to the "Flashpoint" storyline while still incorporating numerous elements of The New 52, including its continuity. It will also see many of its titles move to a twice-monthly release schedule, with all titles releasing at US$2.99.

but not just that....

Wally West explains the in-universe cause of Flashpoint was not due to Barry Allen attempting to fix the timelines; rather, for unknown reasons Doctor Manhattan of Watchmen interfered and removed approximately 10 years from each character, which resulted in the younger age of heroes in The New 52, and the loss of legacy and previous relationships.

does removing 10 years mean he removed ten years from time, and it returned to an age before Golden Age? ( such as in the N52, barry allen is the flash and not Wally West)