To be serious for a moment when people say "it's fake", they mean it's not a legitimate sporting contest. That's true...and completely misses the point. That's not what it's meant to be. It's scripted entertainment. A high school teacher who was a big pro wrestling fan said it was a "soap opera for men."
Porn isn't a legitimate sporting contest either, but it is fake in that it's staged and scripted (minus amateur stuff). It's the same scripted entertainment.