By "any subcomponent," do you mean that the powerset of the universe is composed of conscious entities, even when light speed and expansion preclude causal interaction within the conscious entity?

If you replace consciousness with subjective experience I believe your statement is correct. Also once you have one infinity you can take power sets again and again.

I'm really confused by what that does to anthropic reasoning

As far as I understand it breaks anthropic reasoning because now your event space is to big to be able to define a probability measure. For the time being I have concluded that anthropic reasoning doesn't work because of a very similar argument though I will revise my argument once I have learned the relevant math.