Interesting concept, I've thought about applications of "invisible save states" myself and I liked seeing this one!
Are all the in-game choices aside from New Game just "fluff"? If it wasn't for the ending with Experience Spirit I would've thought the correct choice for the main character's sake would be not playing the game at all (or stopping after Time Spirit). I imagine it might still be, but then, curiosity always pushes onward, I guess!
By the way, and this is likely related to the earlier comment you got, it took me three runs through Time Spirit to realize that the game was in a folder where it didn't have writing permission and thus couldn't advance. Maybe you should put a bit about that in the readme file and/or on the download page on itch.io for silly users like me!