The outcomes are scripted, but at least 75% of the bumps are real. That "mat" that you "safely" land on is about 2 in of foam on top of wooden slats. It hurts like shit even when you land correctly. Imagine landing on your back from the top turnbuckle onto that.
The "ropes" usually steel cables that are used in airlines that have been wrapped with electrical tape. They leave red marks on your skin when you run them and if your body doesn't hit all three ropes, you risk accidentally sending yourself over the top rope because of the inertia.
And most guys work "stiff" or "snug" which means most of their punches are pulled but you're still getting hit with them. Yes the main concern is protecting your opponent, but there's a difference between protecting someone and it not hurting at all. You can only protect so much when you are choreographing a fight.
All in all if you think that a stunt man throwing himself down a flight of stairs is "fake" because he's doing it in front of a camera for a movie then yes by that definition wrestling is fake.
I went to wrestling school and it was a grueling 6 months where we learned the basics for 8 hours a day, 6 days a week. I don't think I ever felt like it was fake lol.