The loop theory was what I thought it was.... Kinda like Neo in the matrix. With the player helping James to either come to terms or be fully selfish and stop looking for his with (from Maria ending).
The 1981 20 yrs theory might be it too. James actually plays a VIDEOTAPE on an all 80's out TV when dvds were in by 2001...
Idk but this game was and continues to be a masterpiece. Now both, 01 AND remake! 😊