I’ve got that feeling as well. See part of my comment here.
I’m not so convinced about the father theory, however. LeChuck as “bad” older brother, as hinted by the MI2 ending would work equally well. Though I guess some things still don’t add up, like the dead parents in MI2. Or would Elaine be the step mum and Chuckie step brother?
Remains the questions how many “realities” there are. There’s the framing story, that’s supposedly the real reality, but could also partly be imagined if Boybrush == Guybrush. There’s the pirate world, which is clearly imagination. But then there’s the theme park that marks the end of the imagined story, but is still part of that same story. So is it the same as the park in the framing story? Or is it also just imaginary? As I wrote in the other thread: more questions than answers.