I think we need to take a step back here and look at what the razor is, and what it isn't:
The razor is not proof, merely an indication of likelyhood.
The razor does not prefer the simplest explanation, but the simplest explanation when all explanations are equally plausible.
What this means is that in order to apply the razor to a Divinely ordained universe you first have to have some measure of how plausible that is compared to a universe that ordered itself, "just because".
M-theory may explain the mechanics of how the universe came to be, but that isn't a "why" explanation, so it isn't in competition with any God hypothesis. The biggest problem with M-theory is like many theories of the last 10-15 years is that it tries to use multiple universes to get around the problem of unlikleyness.
There's really no reason to posit more than one universe in the beginning even if you believe that multiple possibilities create new universes, and the model is actually less likely than a single-universe one because it requires more happenstance, not less.
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