Gasp!

I think Matsukata is saying that with respect, but knowing that the theory of Wonder looping in the newly added main story has become strong makes it feel like it's hitting the core of the issue... Could the X in P5X stand for 'X' as in punishment, and Wonder is looping as a punishment for not being able to save their phantom thief friends in the past world? If so, the meaning of 'Phantom Thieves' would also change, right? That's a figment of Wonder's perception, so they don't exist in reality. The description also says the Phantom Thieves are the initial Persona, but the 'Phantom Idols' are different from the initial Persona Duo. Atlus is scary.