It's not a question of what is real, it's a question of what the WWE wants you to believe is real. They call themselves a "soap opera" or "movie" to try to defend the ridiculous storylines they put on TV, like Vince being "dead" or a corpse getting fucked. If the WWE really fancied itself a soap opera and didn't want people to believe kayfabe was still alive then they wouldn't, like I said, have Eugene be a retard 24/7 (basically, having people "live" their characters).