I think it's fine so long as the player understands they are incorporating their favorite wrestler/persona into the XWF, and that strange things can happen to them, and that the XWF isn't designed to change automatically because someone decided to play Vince McMahon and that IRL such-and-such would actually happen. If the player gets upset that 'Stone Cold' Steve Austin gets put through a table because IRL Stone Cold just shows up and gives people stunners, or unhappy that John Cena loses match after match even though IRL he doesn't necessarily, there could be a problem.