The idea of a content model is new, but it has similarities to both a database design and an object model. The purpose of both of these is to provide a foundation for the logic of the operation. With a database design, we want to structure the data in a meaningful way to make storage and retrieval effective. With an object model, we define the objects and how they relate to each other so that accessing and managing objects is efficient and effective. The same applies to a content model. It's about structuring the content and the relationships between the classes to allow the content to be accessed and displayed easily.
The following diagram is a simple content model that shows the key content classes and how they relate to each other. In this diagram, we see that resources belong to a collection which in turn belongs to a context. Also, a particular resource can belong to more than one collection.
As stated before, there is no such thing as the "right" model...