Wrestling is the only narrative medium in which a worked shoot can actually be effective as a straightforward storytelling device. Unlike film or theatre, unless your subject and themes are meta in nature, you're not gonna get away with your actors breaking character and acknowledging the presence of a fourth wall. If Guardians Of The Galaxy 2 featured an interlude where Starlord sat cross-legged and addressed his crew as "Dave" and "Zoe" while calling out James Gunn for his creative direction, everyone would just be confused.
However, just because a worked shoot can be done well, doesn't mean it's a guaranteed success. In the modern, post-kayfabe era, there's been a slew of times wherein wrestling companies have attempted to inject real life into their storylines, and it's come off badly. Sometimes it's because the audience doesn't know or care about what the wrestlers are "shooting" about, sometime's it's just presentation, and sometimes, the subject matter is outright unpleasant and uncomfortable.
Fair warning, I tried my hardest to find examples that didn't involve the Wizard of Worked Shoots himself, Vince Russo. However, as this list shows, that man is more addicted to the trope than anyone in wrestling.