(Spoiler) Real Meaning of the Story.

The entire story is an allegory for acceptance of death. Chloe was always dead. She died in the bathroom that day. Max's entire time traveling adventure was her inner struggle with the guilt she felt, imagining to herself "If only I could rewind time, I could've done this to save her. I could do this to help this person and that person". She is in a period of denial. Which is normal. I think being so close to a senseless tragedy like that, would make anybody replay it over and over in their mind thinking what could they could've/should've done.

The final choice given asks to save Chloe or save the town, but in truth you cannot save Chloe. Chloe was dead. The real choice is for Max to remain in the fantasy world where she is a time traveling hero who runs away with chloe, or for Max to come back to reality, accept what happened and morn chloe with her friends and move on.

Theres lots of clues dropped indicating this. Chloe leaves graffiti saying "let me go" "I want to die" and other messages for Max to accept the truth. On the flip side theres alot of clues around of Maxs guilt, obviously in the nightmare section theres alot of messages to Max from Chloe, from her friends all telling Max she had wronged them or begged her not to abandoned them. And finally theres a strong message in the game of knowing that you're not alone. Max plainly says that to Kate in the class "remember you're not alone" and repeatedly in the game there are characters telling others "i'll always be there for you", "thanks for being there for Chloe/Kate", "If you need anything call me (even victoria says that), I'll be there". This is Max understanding that if she accepts what happened she has support.