So this powerful association of chiptune with video games actually gives a lot of power to chiptune musically. Even just a few notes of chiptune music draws from all of our past experiences in Mario, Zelda, and sets the stage for a creative adventure. In effect, chiptune can give a sort of 'permission' to a creator to be fantastical and out of the box. When the consumer of their product hears chiptune, it is already clear that the rules or aspects of our reality may not (and probably don't) apply ; we're in a video game!
I recently played through a surreal little platformer called A Kitty Dream, for example, which follows the dreams of a wayward kitty through various worlds. Any out of context inspection of the setting and events of this game would be baffling to an outside observer. Now I'm not going to claim in the case of A Kitty Dream, or any other game, that chiptune is the sole reason for this fantastical world, but it's presence helps put it together quite a bit in my opinion.