Of course, but what I'm saying is that most of what is actually produced in the EW/WI genre is schlock. Obviously, I don't find fault in the idea of doing an EW or a WI, as suggested by my list of 9 EW/WI stories that felt like there was something narratively gained by their existing.
Kingdom Come, for one thing, ended up having a real impact on mainline continuity through The Kingdom's introduction of Hypertime. Beyond that, there was much more being discussed than the basic "What if this happened" scenario. The scenario was a means to a larger narrative end.
What If Civil War really allows Marvel to more fully explain why they believe Tony Stark was in the right in the Civil War. This allows them to more fully show us what would have happened if Tony hadn't been there. While I disagree that it would have played out that way, it's now canon, in a way, which sort of provides an internal moral justification for Stark's actions, although I just plain don't like futurism and the kinds of objectification/quantification of morality that it brings, so I still don't agree with Tony's actions. But What If Civil War provides an avenue for Marvel to basically plead their case.
Dark Knight Returns was, at the time it was made, suggested to be the future of Batman, and by extension, of the DCU. It made such waves because it resonated, as Charles Bronson's Death Wish movies did, with a helpless, primal, conservative/individualist/anarchist zeitgeist sweeping over America at the time. It was much more a story of its time than its characters.
In Darkest Knight simply answered a question that just about anyone who's ever been a fan of both Batman and Green Lantern had probably been asking themselves. And there's a good reason they'd been asking it: how does a character like Batman inhabit the fundamentally different role of Green Lantern? If In Darkest Knight had a flaw, it was that it didn't explore the question enough, whereas most EW/WI stories devote about 20 times too many pages to their questions.
Superman Red Son, of course, answers a question posed in this exact thread, and obviously a favorite of DC fans. Of course, Crime Syndicate stories had addressed this in their own way, but Ultraman was more the complete opposite of Superman in the sense that, just as Superman served the guiding morality ("good guys win") of his universe, so too did Ultraman serve the guiding morality ("bad guys win") of his universe. This was a Superman doing bad things for bad people in the name of many of the same ideals that the original Golden Age Superman championed. It was a fascinating exploration of the character in a way that Batman: Two Faces just never could be.
The large-scale Marvel/DC crossovers like Amalgam and All-Access and whatnot, again, were asking questions that fans had always had: what would it look like when the two universes collided? There wasn't much depth to the crossovers, but they were a lot of fun.
Elseworlds 80-Page Giant, if you can find a copy or a scan, is phenomenal in its updating and modernizing of the old Silver Age "imaginary stories." The "imaginary stories," in a way, were always closer to What Ifs than to Elseworlds. 80-Page Giant addressed the dangling questions left by those old tales in one fell swoop with the Super-Sons finale. It quickly moved back to typical Elseworlds/OOC storytelling with the Letitia Lerner story, and managed to tell the best All-Ages story that an All-Ages audience should never be allowed to see.
What If The Avengers Defeated Everybody sort of asks the same question that "Earth-Perfect" from Countdown did: if the DCU and MU could seriously just move forward from its status quo, what would a happy ending look like? Would it be fun?
What If Planet Hulk: What if the Hulk had landed on the planet the Illuminati intended for him? Well, a ****ty CW-ripoff-right-up-to-the-copout-ending crossover wouldn't have been made!