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Like I said in the post, the fight itself will of course be a shoot. But the rivalry, the fake that it's sold as a legit competitive fight, and everything surrounding the actual fight itself is fake. It's a work, so to say.

I know that you already mentioned this in OP, but it is really important to make this distinction when we're going to compare this to WWE wrestling, which, hopefully most people realize, is entirely fake, from top to bottom.