According to a review on another site that is the standard 1080p version but at least it is from a newer master so if before you only had the old Universal disc it will be a nice improvement.
That is indeed a really good decision as people may not buy if their favorite version is not included on a UHD disc.
I surely do not want to watch Waterworld in a short version so I will not buy that release as only the shorter version is available in UHD.