Ah, I've seen that part explained better elsewhere, I guess. The idea was first postulated by John Wheeler that black holes and big bangs are the same phenomenon from opposite sides, and that instead of a singularity the collapse causes a bounce that creates a disconnected spacetime. During that transition phase, when quantum forces are at play, the parameters of the child universe are set randomly to allow for variety in the offspring.

Smolin, a student of Wheeler's, took the idea and understood that the changes would have to be subtle instead of completely random. Within enough generations, more successfully reproducing universes would outnumber those that weren't exponentially, and assuming that we're a typical universe, our constants will be found to be tuned to produce black holes almost as efficiently as possible. His work is absolutely a real theory, is published, offers predictions, and is falsifiable. It's worth checking out, honestly, even if you just want to read about Einstein and Leibniz and all those guys for 300 pages or so.

Gough continues even further, suggesting SMBHs would have to be a trait found in the earliest universes even before they could form stars, which suggests that our universe should have extremely early forming SMBH and that these essentially create the structure we see in the universe. And so far it's looking like he's right. And if we determine concretely that SMBH form via direct-collapse in the early universe, I don't get how we don't just have to start over with a new model of cosmology.

Lastly, and I know this crowd hasn't really been down for natural philosophy sans-math, if black holes are the first thing to form in our universe and, based on what we know about them, they'll be the last thing around, too... Doesn't that make them seem pretty important to the function the universe seems to be performing?

And honestly, just think about how many questions it would answer. Is the universe infinite or finite? Well, it's finite but so massive and expanding at the speed of light so it might as well be? Well if it's finite, what's outside it? The parent universe! But you can't get out there, because the white hole that formed the Einstein-Rosen bridge connecting our spacetimes collapsed immediately. Well why are the constants these values in our universe? Because those values are REALLY good at making black holes so it's super trendy for universes to be more or less those numbers.

(I know I'm oversimplifying to anxiety-inducing levels and quite likely misappropriating terminology I should leave alone, but I'm just trying to illustrate possibilities. Thanks for reading!)