So my first thought was Olaf Stapledon as Lovecraft, but that would just sound like Lovecraft as Lovecraft, only with slightly worse prose. My second thought was Thomas Pynchon as Lovecraft, but that would just be Pynchon as Pynchon, only without the explicit sex. My third thought was Heinlein as Lovecraft, but he already wrote "The Unpleasant Profession of Jonathan Hoag." And somebody else already thought up "H. P. Lovenstuff."
Then I fell into the outer layers of dream where the degenerate priests of inaccessible Leng murmur blasphemies to the Other Gods of universes whose names no man dares speak aloud, and the following fragment came to me: