RIght, they aren't saying "dedicated" server, but they are essentially handing the reigns over to you on one of their already established spaces on their main servers and letting you tweak the details.
It will be a nice change of pace and hopefully provide more people an opportunity to get matched up with players that share the same game preferences and playing style. I haven't seen all of the details but it would be nice for new players to have a dedicated server that locks out certain ranks from joining (not that higher rank = better skill).
I just enjoy seeing companies provide more features like this instead of the trend we have seen with several others where "less is more".