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I feel multiverses make for some more creative writing potential and help avoid writing yourself into a corner becuase of established continuity or having to ret-con stuff to fit the new stuff.
The...

Yeah, I basically see it akin more specifically to DC's Multiverse and Hypertime where you may or may not have a "prime" universe that all other universes echo in some way to explain why there are...

Well, PSPo2i's PSO1 sidestory and Emilia&Vivienne's appearance in PSO2 have the games tied together via Subspace in what basically seems like a comics-style multiverse.