Although, at first, it may seem unusual that Spider-Man: No Way Home, it actually makes perfect sense. In fact, the move advances two important storylines within the greater Marvel Cinematic Universe during its Phases 3 and 4: the character arc of Dr. Strange and the inexorable expansion of the multiverse.
From the moment audiences first meet Dr. Stephen Strange, he is egotistical and reckless, willing to push whatever boundaries or bend any rules that may be placed in front of him in the relentless pursuit of his goals. Of course, it is these very same qualities that made him an accomplished neurosurgeon at the beginning of his MCU arc, and they’re also the ones that allowed him to become a Master of the Mystic Arts in a remarkably short amount of time. Wong’s warning in the Avengers: Endgame.
Stephen Strange’s budding relationship with Peter Parker certainly comes into play, as well. The two created a bond during their quick time together in Iron Man, Nick Fury, and Mysterio, but his swaggering style could prove to be the best, final illustration of the role of personal responsibility and the law of unintended consequences for Spidey.
Strange's involvement in No Way Home can hold some lessons for him, as well, and not just Parker. From the start, viewers have pointed out the similarities between Stephen Strange and Tony Stark, and that parallel can continue in this film; the end of Iron Man's arc was very much about deconstructing Tony Stark’s ego and narcissism and increasing his sense of humility, getting him to the point where he was more than ready and willing to sacrifice himself for the rest of the universe. Tony’s relationship with Peter was a major component of that transformation, preparing him for real fatherhood and familial obligations, and it may very well be the same for Doctor Strange in the Multiverse of Madness, early next year.
That sequel will also service the growing multiversal front of Marvel Studios’ storytelling, but it will be positioned to do so thanks to Spider-Man: No Way Home. Endgame may have hinted at the multiverse’s existence, and Ant-Man and the Wasp: Quantumania.