In a recent article, Wundrack et al. (2018) put forward an elaborate and intriguing hypothesis on enhanced perspective-taking (Theory of Mind) ability as a consequence of higher personality state variability. While there is evidence in favor of this hypothesis, the clinical examples of bipolar disorder and borderline personality disorder, as highlighted by the authors, demonstrate that a high state variability can also be accompanied by a lower perspective-taking ability (as commonly observed in these disorders). We suggest that only those state changes which are initiated on a voluntary basis and are accompanied by self-awareness go along with a higher perspective-taking ability. Introducing self-awareness as a moderating factor might help explain seemingly conflicting findings related to the hypothesis proposed in the target article. Moreover, we argue that the direction of causality proposed in the target article is not the only conceivable one, and perspective-taking ability could also be a cause, not just a consequence, of personality state variability. Finally, we provide suggestions on how these hypotheses could be tested in future studies.