Bedrockgames
I post in the voice of Christopher Walken
Every plane has physical laws. Heck, show me any reference in D&D to a physical universe at all!
This is your personal theory, which happens to fit the narrative in VRG, possibly because you like that narrative. That does NOT make it so in any way beyond your person.
I think the move to the shadow fell is a key division. I like the demiplane being part of the ethereal plane. But to each their own. It is still a dream-like and strange world. It is also a world filled with false history. However I think it doesn't work well when you spell out what that means in terms of the people residing there. It is better to leave a question mark around all this stuff I think