https://news.ycombinator.com/item?id=2727750
It's a pretty simple theory, which I ultimately reject even to this day. If it were true, however, the expanse of existence is truly terrifying.
This theory leads to any possible existence existing, short of maybe self-contradiction[0]. Well, so if that is true, then there exists a relation of beings where one of the beings is both powerful and has motives that are purely antithetical to the others. Think "I Have No Mouth, and I Must Scream" kinda bad, only armed with Knuth's up notation and applied to pain and suffering. A hell that's truly beyond comprehension.
If this theory is correct, then all beings eventually find themselves in this hell. Note that this isn't argumentum ad consequentiam. I'm not saying that since this is such a horrific outcome that it's clearly false. I'm saying that if it is true, it is a horror beyond all horrors.
Though I suppose there is always a chance that a being that found themself in such a situation could always randomly pop out into some other, better existence by sheer chance.
Thinking about it is useful, but ultimately there are too many degrees of freedom to come to any practical conclusions.
[0] An existence arising that stops the existence of the vast randomness leading to all existences, for example.