Concerning the function of consciousness, perceptual reality monitoring (PRM) certainly makes sense as an adaptive function, but it isn't clear what the function of subjective experience (Lau’s definition of consciousness) is. If, as he says, PRM is the mechanistic process that gives us subjective experience, but is not subjective experience itself, then it seems that subjective experience is something extra that may or may not have a function.
That's the reason I think that emotion and embodiment must be included in our explanation of consciousness. Stay tuned: In July I will be playing an encore episode that you should find interesting.