Philaster is a snapshot of historical life, and it is a brilliant social drama filled with absolute indulgence and melodrama. By the time the author gets to the big plot twists, he seems unable to stop, because one by one, the plot twists continue until the reality of the play is revealed—it's a comedy.
To say Philaster is a comedy is to notice that it ends with a marriage where the rightful heir is returned to the throne (albeit ironically). Modern readers often confuse formal comedy (the opposite of tragedy in literary theory) with comedy (as in funny things), but the truth is that this book has both. The comedic elements in this book include the ridiculous plot twists at the end, such as the layered revelation of Bellario's true character (the page is secretly one of Philaster's lifelong admirers, Euphrasia, and furthermore, when Philaster chooses Arethusa, she asks to be their servant). That also means that when Megra accused Bellario of cheating with Arethusa, that it is extra absurd.
If the reader steps back from the story and views it all at once, what they'll discover is that Philaster is a picture of the courtship of young people. For a young person to find love feels chaotic and insane, but the argument of the story seems to be that in the end, things seem to work themselves out. This is even true for Euphrasia, who doesn't get her man, but she still gets something as consolation—she gets to stop the hard work of pretending to be a man, and a page nonetheless.