Clarification on new field context behavior - values available per space/work type

[Sarah James]

I'm reading the FAQ on the new field context behavior related to the field - field scheme changes and wanting to confirm behavior.  I've excerpted the section I'm wondering about below.  
Field always has a global context with default values, but I can set a separate list of values for a particular space via contexts.  Basically, if I don't designate a context for a space that includes the field, the field will show the defaults, correct?
Am I also reading correctly that the context cannot be set within a space to give a specific set of values by work type, or is that also still possible?
-------

Q: Are Field Contexts going away completely?

A: No, but their purpose is changing slightly. Field Contexts will remain, and they will define a field's default value, available dropdown options, and other configurations unrelated to visibility of a field.

They will continue to exist and define those settings per space/work types.

They will no longer control whether a field is visible on a specific space or work type.

Since contexts are no longer restricting use to certain spaces/work types, you will no longer be able to delete its global context, but you are still able to modify it's configurations. (note: this also removes previous restriction that a field with no global context could not be used in team-managed spaces)

Q: Will it still be possible to have multiple contexts per field with different dropdown options for different projects/spaces?

A: Yes. You can still have different sets of options for the same field across different spaces.