Incorrect, as time is a layer of existence. To think of reality as one big thing that is entirely fused together and can only be thought of as "one vessel" is small, simple, and just utterly boring. Space and Time are two different things, they are closely related, yet not similar. It isn't illogical to think that you can be outside of one, and not the other. And no, it isn't. A time line is technically a parallel universe, a different reality with a different set of events, and points in time. Outside of that there is nothing but the void, no space, no time.