The thing is, when you create Flashpoint, you do create a new timeline. And then when Flashpoint gets undone you have created another new timeline. You never actually change the one you are in, you just create an alternate. Look at what happens when The Flash undoes Flashpoint – babies change genders, entirely new characters appear in his life, people’s pasts change. Things don’t go back to how they were. If you are “rewriting the original,” you are creating a new timeline.
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As it stands, I believe the question has been sufficiently answered, so discussion from here out may be better served in the theory topic.
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