Is observation creating reality — or creating an intersection?
If I understand the gist of the paper you linked and the concepts you mentioned correctly, aren't they effectively the same thing?
As in, reality (as we perceive it) essentially arises from the intersection (or perhaps, interaction ) between observer and observed.
Side note: I find it interesting that the latest research emerging from theoretical physicists is increasingly reinforcing ideas that Buddhists and Vedic philosophers have argued for centuries. Namely, that the existence of individual selves is an illusion, and that all things are essentially temporary manifestations of the same, unifying, cosmic substance.