Kayfabe is bigger to me than just knowing that wrestling isn't a legitimate athletic contest. That is certainly part of it, and one of the oldest parts of keeping it, but I think the term applies to more of an epistemology of pro wrestling. Kayfabe, as a concept, represents things about the business that outsiders either don't know, don't need to know, or that-in knowing-get them unnecessarily close to the show. And while I would argue that it also encapsulates pro wrestling's traditions and codes of respect and conduct, I don't think I have to make that claim to still maintain that Kayfabe certainly still exists.
In the internet age, Kayfabe just moved. As internet savvy fans, we like to think we know how things work, but we still only understand things on a cursory level. I have no idea how a match is called in the ring. And while I'm pretty sure on my ideas about how this could and should work, it's still a mystery. Even the workers on the board can still admit to not understanding the WWE's brand of Kayfabe, it's interpretations of the pro wrestling business. There are still many mysteries and secrets operating to keep the show exciting and, more importantly, keep us buying tickets. While Meltzer and those like him provide a lot of insight from the access they're granted, they still get things wrong, can get worked, and are inherently getting things second hand.
I understand how a car engine works for the most part. But I am not a mechanic. And I am certainly not an engineer. So while I may know the basics, there are levels to knowledge that apply to all sorts of topics. Instead of degrees or titles, pro wrestling has Kayfabe and I would argue it very much still exists on many different levels. It has to; if an audience knew how every aspect of a big touring concert or a Vegas magician's show worked and operated, there would be no business. All of the spectacle would be gone. Mystery is an aspect of spectacle, and Kayfabe works to preserve at least part of the mystery to varying degrees in order to preserve the spectacle and to keep us paying to witness it.