lightyears are indeed a measure of distance, but since you cant take a meter stick and measure the distance between such an event we have to rely on something that gives us a verifiable constant.
thus we can ascertain great distances when using the speed of light because of how far it travels. given the doppler effect coefficient(s) we are able to guesstimate how far away this event is. but its only a snapshot in time, at a later time it will have changed.
given the nature of using lightyears as a measure of distance comes with the added knowledge of the time it occurred. we are only seeing it now because the light took ~12 billion years to get to us. so in essence, its both how far away it was 12 billion years ago, in addition to it being 12 billion years old of data.
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