Yup, I agree with your points. It's where I landed too. I always just try to see it from the perspective of people who like the hallucination theory.

It's like the Ferris Bueler was in the head of his friend and wasn't real theory. At first glance, kinda explains a lot. But it's absolutely not true, and the are breaks in the movie that would happen if it were, additionally the director said that wasn't true straight up.

But people still believe it. I try not to antagonize, but to show how unlikely that theory is to hold up.