If I buy an "authentic Rolex" and receive a Chinese Rolex clone that's built similarly based on observations of a real Rolex, I'm going to feel scammed and very upset. And I'm much more protective of my memories than I would be of a watch.
No more so than "virtual," which used to mean "true." Or "literal" which used to be the opposite of "figurative." It's just another word being used auto-autonymically.
Definitio fugit.
Literally is often used in a sarcastic context. That sarcasm depends on the word meaning what it means.