Every major civilization starts on a single continent, the "old world", and there is a second continent, the "new world" which only starts with city states and lots of open space. The idea is that once ocean travel becomes possible, there is a race to colonize the vast open territory of the "new world", the continent no one started on.
I believe that terra maps are also bigger than other maps. As in a standard size terra map is bigger than a standard size continents maps, despite both being size standard. Although I'm not sure.
I also don't know how the AI performs on this map, however it sounds like a great one for multiplayer games with some friends. I also don't know if it ever spawns more than 2 continents, extra islands, etc.