The discussion clarifies the formula for velocity, emphasizing that the correct relation is v = u + at, where u is initial velocity, v is final velocity, and a is constant acceleration. It explains that acceleration is defined as the time rate of change of velocity, leading to the derivation of the equation through calculus. The initial formula v = at is deemed incorrect unless initial velocity is zero, as the correct final velocity incorporates initial speed. Additionally, it notes that if acceleration is not constant, average acceleration must be used, and the relationship between acceleration and velocity is established through integration. The conversation highlights the importance of understanding these concepts for accurate physics calculations.