Me neither. Assuming there is indeed a loop that's taking place, reincarnation loop seems to be more fitting to the whole ghosts, chained souls, out-of-body experiences, and the walking dead theming that's prevalent in the VN so far, but that's just my opinion on the matter.
Remember the moment with Alex and the stars? That dimension is exactly like our dimension, but is just used for selling houses to rich people? Nonsense. I think that if the loop is not broken, the realm, dimension or whatever you want to call the world is doomed, and all the people in there. Yes, you can visit doomed realms, but they are empty, only NPCs and nothing more, just like the realm where you find Calypso, an endless and dead realm.
Orion is not the first, and maybe not the last, but I don't feel like is a time loop, is worse, every failure is another realm that perish and more souls condemned to suffer eternally.
But my problem is Luna and her powers. We don't know exactly how they work, she can see the future or just what happened in another realms? If she can see the future she can't change it, if she can see another realms, she can. And why Orion is inmune to that? He doesn't have a future? Is he unique, the first Orion in all the realms? To many questions, to little answers.