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The third way then in summary is it being real but for some reason been embellished unnecessarily. We could theorise the rationale for this something with bringing the community out of their shell, provoking controversy because it would not have been picked up as a good story if not, and something about teaching us the difference between real and hoax by actual example in the real life.
FIGU contends this and says something about MIB and fraudsters destroying it because they don’t want us to know. This idea of “don’t want us to know” is incredibly popular, we could monetize the entire Meier archive under that. However FIGU have gone for a don’t bother doing much of anything and leave it to horn, approach. So some of these ideas don’t hold water if you see what I am saying.