What a magical post! And I mean that most ironically. Yes, I think it does cause philosophical problems to believe that consciousness creates reality, although I can get into a pure SR scenario where I am all that is, imagining everything including everyone else, but it does involve constraints on my consciousness of the type you've described. These problems are raised and answered here in different ways, for instance, perhaps most commonly, "Why can't I just intend and get immediately and without fail", or "Why can't I do IM?", to which a common answer is "You're not trying hard enough", "You're trying too hard", or some form of the idea that we have an unconscious or subconscious reality below what we are aware of. You consciously think you want money, but are really unconsciously thinking you don't deserve it, for instance.
And exactly as you say, it doesn't really seem to matter...and yet somehow it really really does. If there is an objective reality out there that I must interact with, and I simply can't always have what I want due to the LON (Laws of Nature, remember them?), or if I am lord and master of all I survey, but for some unknown reason can't turn that on like a tap, there is little practical difference regarding a single event perhaps, but the two scenarios suggest some different approaches to improving my lot.
Still, it does often seem to just move the goalposts: instead of trying to deal with the physical realities of life (as most assume them to be), the believer seems to spend more time trying to deal with the mysterious elements of facilitating their magical abilities (practising IM, studying it, overcoming their psychological blocks, and so on, some of which may be useful of course). And philosophically it moves the goalposts too: if I am creating reality, and all is subjective, but I can't create absolutely anything, quite how that differs from an objective reality is beyond me. Your philosophy above is very sophisticated. Someone could counter your argument by saying that Subjectivity is All There Is and that is the unchangeable fact of Reality. You can have every wish except an Objective Reality.
Personally, it's all so far-fetched to me that I'd prefer to believe I can cut my own throat on Occam's razor if I'm not careful. It's fairy dust all the way down. If religion is the opium of the masses, LoA is the oxygen of the oxymoronic. Unmanifest this and a poke in the eye is insufficient remedy for some.
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