Board Thread:General Discussion/@comment-26006155-20200107155350/@comment-26907577-20200210151723

If it's suspicious- which I'll try not to discount- then it's only suspicious from a meta perspective, which is Dog of the Gaps.

Regardless of whether the keychain is part of some theory, there is one theory it is not a part of: "The Key Was There All Along." Unless you can resolve the contradiction (i.e. Frisk should remember the key is there), the theory does not hold water. No amount of Story Potential can fix that. Even if I loved Story Potential, it still couldn't.