In a hypothetical role-swap AU, I think it fits Time Traveler!Madoka's insecurities — or the insecurities that led her to this — for her to be able to meet her past self in future timelines.
To Homura, I suspect Madoka is a symbol of ordinary life — a life she's prohibited from by her heart condition, her stunted social skills, and intrusive suicidal ideation (which calls/conjures a witch). Madoka's life in Timeline 1 was distinctly a Sailor Moon-style dynamic, balancing the ordinary (and she's still a very regular girl in Timeline 1, plus or minus profound kindness and magic powers) with the extraordinary. She gives Homura access to an ordinary social world, to friendships only partly defined by the camaraderie of magical girls. To eating with other people.
The fantasy of regaining that dynamic of being allowed into the ordinary, having been excluded from it again by her wish (which puts her on the fringes of the world, socially stunted and incapable of building relationships, fighting desperately for an ordinary life again) is why Homura frames her warning to Madoka as "stay just as you are" — because that's what Madoka is, to her, a symbol of full existence as a person in a real, ordinary world denied to her for her entire life. What pollutes that is Madoka becoming extraordinary, because Homura already occupied an extraordinary world, but one of precarity and hopelessness — it's Madoka wanting to die, in the way that Homura once almost gave in to, that spurs her ultimate transformation from glasses-braids Moemura into the person she becomes.
Whereas Madoka imagines the world of magical girls as something extraordinary. Madoka admires competence — her capable mother; fantastical, performative (and deeply traumatized, but shh) Mami and hypercompetent (and deeply traumatized, but shh) Homura — and her most profound aspiration is to be special (and useful); her relationships with magical girls are primarily about her desire (or failure) to support them and whether she's capable of doing so as an ordinary girl with nothing but love and friendship on her side. She conceives her relationship with magical girls less as one where she joins their number and becomes one of those magnificent, showy personalities and more as one where she provides emotional support. The contract would let her understand the feelings of magical girls properly, enough to cross that divide — but beneath that there's a suppressed longing to be good at something, to be capable, to have something special about her. It's about entering the world of the abnormal, even if it's awful, because it would give her a purpose.
So in a world where Homura was Madoka's introduction to magical girls, which ended in the deaths of her entire team, I suspect Madoka wouldn't focus on entering the fold, but on her idea of herself as too ordinary to contribute, and that they might've lived if provided with competent, understanding support from someone special. Homura thought of herself as especially weak and wished to become strong; Madoka thought of herself as especially normal, so her wish might very well be something like...
"I wish Homura could have met someone else, back then, instead of me. Someone who could actually help her."
Magic, being fucked-up, decides that this means Time Traveler!Madoka should be physically shunted into each new timeline, as a separate person from its original resident Madoka — a separate person, a different girl, someone who could help Homura — disrupting the original relationship between her past counterpart and her best friend/all-consuming crush. (In this AU, Homura's typical wish is to cure her heart condition, and she took her hair down not as a trauma response, but as a self-conscious attempt to change her image. Time Traveler!Madoka's original Homura was a chuuni loser playing up being Cool and Capable for the cutest girl in her class.)
But, given that there's another Madoka running around, the future-version is increasingly traumatized, and her life is full of friends and family who are close enough to her to notice her acting strangely, Time Traveler!Madoka has to get the original out of the way and/or imitate her closely enough that other people don't notice a difference, or else risk the traumatic breakdown of her friend group under the weight of the revelation, including a variety of contracts that might wreck everything for the girl she's trying to save.
Canon!Homura is stuck in a funhouse-nightmare version of her life as it was, a world of precarity and hopelessness and existing on the fringes of the ordinary. Time Traveler!Madoka is stuck in a funhouse-nightmare version of her life as it was, a world of enforced ordinariness and helplessness, where she can't ever change or demonstrate competence without being accused of being a different person, and where she's constantly confronted with the version of herself people expect her to be, i.e. weak, frightened and incapable (at least, that's her increasingly trauma-informed read).
She's much more a social manipulator and planner than Homura, her genuine, compassionate heart worn down by trauma and salvaged only by being weaponized. Teamwork and friendship are going to win out, even if she has to slip sedatives into Mami's tea so she'll sleep better.
FOLLOW-UP DETAIL: Homura's change in perspective in timeline 5 is signaled by her removing her glasses. Madoka's equivalent perspective shift involves her putting Homura's glasses on: she places a layer of obfuscation and faux-gentleness between her face and the world, as her armor and as a way of distancing herself from her old self.
Also, Anthy parallels.























