In summary, based on the fluff, it is definitely Lovecraftian but more on the 'outside and bizarre reality' side than the 'outer space' side.
The Far Realm is formally acknowledged in the cosmology, and 'is responsible for monstrosities that haunt the universe'. Specifcally, all aberrations are linked to it.
A Far Realm specific reason is suggested as a source of the conflict between the illithid and aboleth.
Perhaps taking a cue from WFRP, the Far Realm is said to 'seep in' sometimes, overlaying the landscape with an unnerving sense of dread, even distorting it, and tainting the flora and fauna. Strange new creatures emerge from this 'polluted reality' and insane practitioners sometimes 'willfully merge the natural and the obscene'
Yum.
Ohhhhhh me, ohhhh my....evil, evil, evil......
In 4E: redefine Ravenloft to be the Shadowfells Meets the Far Realm......ewwwwwwwwwwwwww









