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It's theatre mixed with pure athleticism that's so convincing even people who know it's "fake" can't tell what's a shoot and what isn't.
In regards to WWE and other long running brands, it's a decades long theatre production and TV Show that has been able to produce intriguing storylines that continue to adapt and garner viewership and discussion throughout cultural and societal changes in history. No other form of TV can do that other than soap operas (which have the luxury of being filmed in a set that allows for mistakes, reshoots and editing over a longer period of time) and cartoons (which are purely animated and not bound to the limits of real life so they can generate unlimited content by just putting characters in a wacky scenario).
It's completely unique and deserves to be given the same amount of respect that Theatre, Film and TV get.
The only sound criticism is that it is "cheesy" but what isn't? The hottest thing in film right now is capeshit which is some of the cheesiest, boring, predictable crap in the world that has no worth because it's just actors pretending in front of a green screen. If you're not invested in the stories of pro wrestling at least you can find value in watching the physical aspect of it and how wrestlers are able to manipulate and move crowds of thousands with in-ring psychology and moves alone.
