SPOILERS, ALSO REALLY LONG. 

I have an understanding of what is going on here.

This is not a dream, it is a time loop!!! An endless cycle of joy and torment that never ends!

I realized as I played it how suspicious Esma came off through playthroughs. Mentioning that we had to mentally prepare, wanting to make sure that Miyuki really wakes up okay (why wouldn't she, unless Esma knows). Ignoring the player's really odd words in the dark space as if she was already expecting it. 

THE WORDS ABOUT BEING IN ETERNAL SUFFERING DURING SCARY STORY TIME BEING IN HER COLOUR!!!

Then I had an even bigger realization. She is not a woman in a witch costume. She is a witch in woman costume... or also known as an actual witch. They all probably did go to a Ghoulish Day party and the player probably did die. She then used magic to place the player in a time loop. But then the question becomes why? Why do a time loop? Well, I see two options here. Either she hates the player and wants him to suffer as much as possible, I doubt this, or she actually did develop feelings for the player and could not stand that he died before she got a chance to really know him, which is more likely.

So, then that's it. I figured it out.  But I feel something wrong. Like I've only dug halfway to where the coffin of truth lies.

Then it hit me.

They all know, all of them. Miyuki pulls the player out of the dark space as soon as he begins questioning things. Min gets flustered by the player's comments as if she already knows and likes them, because she does! It's why Miyuki jokes with Esma about "At least one of us gets the guy" as if she knew Esma already liked the player despite it supposed to be their first meeting. It's why they all like the player so quickly because they already like him to begin with!

The last main thing is why the player himself does not remember and should not. If the player knew about his situation then he'd become unpredictable and panicked. He might even get himself killed earlier, which is not what these girls want if they want to make the most of their time with him.

Now, I've gotten everything. This story is about a man destined to repeat the same event over, falling in love with the same three girls time and time again. In the end to be slain by monsters that will never stop hunting him. At least he's loved to make up for all the pain, there are worse fates I suppose.

Oh, yeah, also there's Brad but he doesn't matter. XD.

Good game, enjoyed it. Hope to see more. : D.