1. Have we reached this point in our entertainment "experience"?
Are world has reached close enough to entertainments who seem suffering to them but amusing to us. It doesn't have to be entertainment but its also around us from satellites watching us right now from are every movement. Their are other shows unnoticeable from some audience, but in the end its just a fun surprise. Not like in the movie it was offly unexpected and yet something harmful knowing everything was set and not reality.
2.Is Truma's whole world fake or is it real? Is what Christof says true or is he justifying the world that he created?
Truma's world wasn't something compare to real, it was all plotted out. Everything was just a set up, as it was all an act but not True feelings from the purity of a humans heart. I don't think it's real on his point of view, but it can be to how the world can live up to at points. Soon the world would be taken over by technology. Christof doesn't know the feeling to be trapped inside a fake world that someone created, or simple been stalked and filmed by something not faced to reality. If Christof was in his position, he would do the same thing that Truma did in the end.