Seems like a wild assumption to think that the reality isn’t a part of the fetish and that this wouldn’t provide a massive amount of cover for the real thing.
I don't think this is wild at all; if the 'reality' of the thing is indistinguishable, then this should work just fine, and it might provide cover for some people who are doing it for free, but my guess is the majority of CP is produced systematically by people who need money