This volume would serve as a fine choice for someone looking to introduce another to cosmic horror as a subgenre. With Clive Barker's "Rawhead Rex" as its centerpiece, Torn Realities offers a wide variety of stories, from dark science fiction to contemporary horror stories with unearthly components. Many of the stories play effectively on ambiguity, especially in the manner of their resolution (or lack thereof).
As diverse as these stories are, it is difficult to settle upon common ground. These are all stories that rely upon the unraveling of reality as we understand it, but none of the stories depends directly on Lovecraft's legacy. Many of them are decidedly in its spirit, however.