I see your point of view but the fact is that Eternity is specifically identified as being the seventh and eighth multiverses instead of the seventh and eighth iterations of reality. To me, that really reinforces the idea that there have been a total of eight multiverses, not one universe and seven multiverses. Of course, if you ("zvelf") are actually Al Ewing posting on this forum, then I'm totally wrong (and you chose your words poorly).
It's 1 universe and 7 multiverses with a total of 8 iterations. Living Tribunal says in issue 2 that he's the living tribunal of the 8th cosmos (iteration). There wasn't a 9th iteration.
IThe return of the LT seemed to indicate he is now a servant, "inner working" of Eternity, though that panel could've been soley referring to Order & Chaos