1. This theory requires a parent universe that can't have been formed inside a black hole. This means there must a be second "universe creation" mechanism that we can / may never know about from our child universe. For me, this doesn't really answer the true question: "How did our universe begin?" Yeah, it may the "unknown field with strange properties" but instead we get an unknown parent universe with strange properties.
2. The black hole in the parent universe must be much much bigger than anything we see in ours since it has to contain all the matter that we see. How is a black hole supposed to form that is 750 billion times bigger than the largest black hole we know about?