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Phonogram was explicitly about our world. It’s a fantasy which is happening around us all, unnoticed except for those who’ve fallen into its world. In a real way, it’s real. Conversely, W+D is much more overt. The appearance of the gods changes the world, and has changed the world going back. There’s the strong implication that certain figures in our world simply didn’t exist in The Wicked And The Divine‘s world, because they were replaced by a god.