>>49884787It's just a cool energy sci-fi dragon, nothing more. Also yes, the ability to control space/time means nothing in Pokemon.
You can catch those literal Gods Dialga/Palkia in nothing more than Pokeballs, you can catch Arceus in a Pokeball. You can catch this thing in a Pokeball. Also Eternatus doesn't control space/time, it only warps the air around it, again, something Gardevoir can do by opening black holes. Something Dusknoir/Guzzlord do by devouring things into unknown spaces, the same thing Porygon can do by crossing through dimensions.
It's not that big of a feat in reality. It's just a massive energy reserve of cosmic radiation that happens to warp things around it, and again we see Pokemon like Muk existing solely due to radiation leaks. Eternatus is just a big battery dragon in lore, it's really not that special compared to Necrozma or Arceus.