The "problem," if you view it is a problem, is that in Mormonism, God is relative. Elohim is God relative to us, but not relative to the multiverse because there is a mechanism by which a human becomes a god. By definition, a god in Mormonism is a human who has successfully completed this process. God being "eternal" is relative, not absolute. No matter how big you want the number to be, at some point there had to be a first god because gods are not self-existing. Matter is self-existing in Mormonism, as are spirit and intelligence.
Man was also in the beginning with God. Intelligence, or the light of truth, was not created or made, neither indeed can be. D&C 93:29For man is spirit. The elements are eternal, and spirit and element, inseparably connected, receive a fulness of joy;
D&C 93:33But a human being having the status of a god is not something that is self-existent or has no beginning.
The King Follett Sermon makes it clear that exaltation is not just becoming some super-powerful angel who is sort of a retainer to God the Father, but a god in the same sense that Elohim is God (and we would be under him in the pyramid scheme as gods). Gospel Principles, which is the LDS Church's basic overview of gospel principles (hence its name) is also very clear that people who are exalted become gods in the same sense that Elohim is, and that the way Elohim became God is the same way that we are supposed to be working toward becoming gods like he is.
Gospel Principles, Chapter 47: ExaltationOur Heavenly Father is perfect. However, he is not jealous of his wisdom and perfection. He glories in the fact that it is possible for his children to become like him. He has said, "This is my work and my glory--to bring to pass the immortality and eternal life of man" (Moses 1:39).
Those who receive exaltation in the celestial kingdom through faith in Jesus Christ will receive special blessings. The Lord has promised, "All things are theirs" (D&C 76:59). These are some of the blessings given to exalted people:
1. They will live eternally in the presence of Heavenly Father and Jesus Christ (see D&C 76).
2. They will become gods.
3. They will have their righteous family members with them and will be able to have spirit children also. These spirit children will have the same relationship to them as we do to our Heavenly Father. They will be an eternal family.
4. They will receive a fulness of joy.
5. They will have everything that our Heavenly Father and Jesus Christ have--all power, glory, dominion, and knowledge. President Joseph Fielding Smith wrote: "The Father has promised through the Son that all that he has shall be given to those who are obedient to his commandments. They shall increase in knowledge, wisdom, and power, going from grace to grace, until the fulness of the perfect day shall burst upon them" (Doctrines of Salvation, 2:36).
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The Prophet Joseph Smith taught: "When you climb up a ladder, you must begin at the bottom, and ascend step by step, until you arrive at the top; and so it is with the principles of the Gospel--you must begin with the first, and go on until you learn all the principles of exaltation. But it will be a great while after you have passed through the veil [died] before you will have learned them. It is not all to be comprehended in this world; it will be a great work to learn our salvation and exaltation even beyond the grave" (Teachings of the Prophet Joseph Smith, p. 348).
This is the way our Heavenly Father became God. Joseph Smith taught: "It is the first principle of the Gospel to know for a certainty the character of God. . . . He was once a man like us; . . . God himself, the Father of us all, dwelt on an earth, the same as Jesus Christ himself did" (Teachings of the Prophet Joseph Smith, pp. 345-46).If our Heavenly Father became God, then necessarily there was a time when he was not God. You don't have to become something that you already are.
Doctrine and Covenants 132 teaches that Abraham, Isaac, and Jacob have attained godhood. There was a time when they were not gods, as anyone who reads the Old Testament (and accepts it as history) can see. So here again is a demonstration that being an "eternal" god is relative, not absolute.
The reason this means that Mormonism is at its root non-theistic is because Mormons believe in gods, not God (since there is a god over Elohim and Elohim is "eternal" and "omnipotent" and "omniscient"
relative to us, just as Abraham, Isaac and Jacob would be "eternal" relative to their own spirit children---no ultimate Being who is in charge of the multiverse). But accepting LDS theology where it goes is only a problem if you feel compelled to insist that Mormonism is a traditional theistic religion like mainstream Christianity. As MrStak observed, Mormons try to chain themselves to traditional theism because they care too much about what everyone else thinks. The response should be that this is what we believe the nature of God is, and if you don't like it, who cares?