After seeing this movie for the second time, its clear that this movie hits the mark on several levels.
It fits in the Trek universe without being the same: By employing a comic book "origins" approach, this rewrites history while remaining true to arguably critical components: the character's key attributes remain intact, the crew is comprised of the same core personnel, the crew fill largely the same story roles as they did in the "alternate reality" Enterprise.
It deftly (and deeply) reuses what we know of the Trek universe: From wardrobe and set/model designs, from gadgets to gizmos, there are tons of references to both the TV shows and movies.
I will definitely recommend this movie, and ultimately own it as well.