The idea that the universe is a single quantum state can be applied to any quantum theory, from a toy universe that only have a few particles and electromagnetism, to the universe with the standard model, and many other variants.
For example some years ago many people believe that it was possible to unify all the forces using the SU(5) group. It was a very nice theory, people like it, sadly experiments disagree. The idea that the universe is a single quantum state can't differentiate between the current standard model and the SU(5) model.
I really hate that the weak force only acts on left handled particles. Experiments disagree with my preferences. The idea that the universe is a single quantum state can't differentiate between the current version and the version where the weak force affect all particles.
So, how can be the idea that the universe is a single quantum state imply that the universe laws are beautiful?
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Nobody like the collapse and the almost magical properties of the observer (the observer can be a machine, it's not necessary a human). Anyway, it's very useful if you can shut up and do the calculations. I vote that the answer to the problem is something something decoherence. It's still a research topic (not my topic), so we have to wait a few years/decades/centuries to be sure.
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I think that "conscious" is like "alive". It's not magical. It's just an useful classification of some aggrupation of matter following the laws of physics.