Tegmark is engaging in a bit of epistemology (we need a lot more of this!) when he observes that (as pointed out by Eddington) it is possible to define matter in such a way that Einstein's field equations are satisfied by default. As Garth has pointed out many times, the degree to which observation agrees with theoretical prediction is highly dependent not only on the model, but on the definitions and assumptions by which the model is used to interpret observation.
I will not presume to speak for his model - I do not understand much of it and so would likely miss some important underlying assumptions if I did so, but here is a case in point from a ZPE standpoint:
Let us assume:
1) mass polarizes and densifies the EM fields of the quantum vacuum and creates gradients in the ZPE fields in "empty" space.
2) EM waves propagate through these fields.
I model "gravitational" lensing as a purely optical effect - EM waves entering a denser propogating medium slow down and are bent (or not) in accordance with classical optics. The important refractive contibutions are made by 1) density gradients in that medium and 2) the orientation of those gradients with the wavefront of the impinging EM wave. (Classically, the refractive index of the lens and shape and orientation of the lens.) So far, so good. Now here's where the definitions come in:
If we need to keep the GR rule that the speed of light in a vacuum MUST be constant (regardlesss of the density of the propagating EM fields), we can slap on any number of epicycles to make this work.
1) We can define space in accordance with ZPE field density (denser field=smaller fine structure) and say that light invariably crosses
s units of space in
t units of time. This definition allows a unit of space to be any size dictated by local conditions (gravitational field in GR) and allows the speed of light to remain invariant (light crosses one unit of space
s in time
t)
as long as our clocks slow down in the vicinity of space with smaller fine structure. This is in accordance with GR's clock slowing in the presence of a gravitational field.
2) We can keep clock time invariant, and keep the speed of light invariant. In this scenario, the only way to balance the books (with the classical optical model) is to assume that in the presence of mass, space is stretched out, so it takes longer for light to cross these units of space (from the viewpoint of an outside observer). You may recall seeing similar representations in descriptions of black holes, where the fabric of the universe is drawn into a very skinny elongated horn and outside observers see an infalling object taking longer and longer to traverse each bit of space as the object falls into the black hole.
3) We can make clocks and rulers vary inversely, keeping neither as a strict constant.
You can see where this is going, I'm sure...
My point is that when confronted by an observation that does not fit the prediction of a theory, there are plenty of ways to use assumptions and definitions to make theory fit observation. This is not a bad way to check for faults in the model, but when incongruities arise later, it is best to go back to the basics and see if the assumptions and definitions that were so self-consistent and useful years ago might be at fault (epistemology!). Curved space-time in the presence of mass is a useful model, for instance - at least on the scales of planets and moons, etc, but it has some shortcomings at galactic and larger scales and it poses severe problems for QFT, making unification a formidible, if not impossible task. Maybe the curved space-time model needs to be re-examined - maybe we need a
mechanism by which gravitation can be expressed in a flat reference frame, instead of a mathematical model that predicts the
results of gravitation as curvature with no mechanism by which the curvature arises.
I view redshift and lensing as optical effects in a flat-frame universe with invariant rulers and invariant clocks, in accordance with Occam's Razor (nowadays often simplified to the KISS rule

). We're all pretty familiar with how redshift and lensing are explained in GR, so I won't get into that. Garth's model treats redshift in a VERY different manner. I believe that he would argue that there is no gravitational redshift, and that perceived redshift is a result of mass gained by the receiving instrument. That makes my head hurt. Nevertheless, it is interesting to me that he can keep SCC self-consistent (to the extent I can grasp it) and
mostly consistent with GR, while making testable predictions.