The thing I imagined for 'baby's cry' is it's basically the next step up on SOS signals. Where a standard distress call is used by freighters, privately-owned ships and the like, and means 'send help as soon as possible' and can be ignored by certain vessels (Military ships on an important mission, for example.) Baby's cry is a high-priority SOS where everyone, and I mean everyone, is to come and try to do anything possible to help.
Or maybe I'm just over analyzing it, meh.
The search for the pixel bits is what drove me crazy in this game, I just zoned out or made something to eat during the cinematics, so they didn't bother me that horribly and I loved the actual gameplay. Though I will admit re-watching these first cutscenes was rather painful.