There is no purpose in those alternate realities, other than being a sadistic fantasy, as another comment points to. Tarantino's universe is very familiar to me. It's based on the series B (or worse) films that we watched as teens.
There is an interesting exploration in Reservoir Dogs, Pulp Fiction and Kill Bill of the obsessive thoughts that old movies raised presenting extreme situations.
I do enjoy goofy details like Uma Thurman in the plane with a katana in the hand luggage. But this is part of the assumed over-the-top tone. Like you said, it's clearly delineated and presented as fiction. The others not so much. A counterfactual historic movie? Now it seems I'm supposed to learn about the plot before watching the movie, or just avoid Tarantino, because I've had enough of that bs.