I own a Musashi, but I don't know which model it is. I really only bought it because a local shop was closing its doors and was selling off their stock at a discount. I figured, it would be kind of cool to have a "real" katana-style sword in my collection, and at the discount it made sense. But I asked around here on MT and got some perspective, so I knew what I was buying.
I do not have training with the katana, and I do not play with the sword. It actually lurks in the back of my closet, boxed up. It seldom sees the light of day.
The Musashis are made in China, and yes, they are "real" weapons. But that doesn't mean they are real katana. They are katana-like, real weapons. The blade is real, it is sharp, it has toughness in its own way, and it can hurt you or someone else. But it is not a true katana blade. It's a discount blade. It's not made to the same quality standards that a true katana is made, and it's made outside of Japan, by a not-Japanese swordmaker, so I believe that alone is enough to say that it is NOT a katana.
In my opinion, the Musashis are the bottom end of what you could call a "real" katana-like weapon. Will it hold up to actual use? I suspect so, for a while. But I suspect that the quality of the materials in the grip and whatnot (I don't know the Japanese terms) will probably not wear nearly as well as a high-quality piece. Japanese swords seem to have a fairly elaborate grip, when compared to a European sword. This creates opportunity for parts to wear out or fail, so quality materials and workmanship becomes more important.
It's certainly got a full size tang, it's not a rat-tail or welded piece. I doubt if it will snap or simply fly apart of you do kata practice, or some controlled cutting, tho I'd proceed with caution and work up to it gradually, so you don't place demands on it that it might not be up to.
The bottom line is, any long piece of steel with a sharp point and an edge can be a real weapon. But there is a wide range of quality among weapons. Some are cheap, others are expensive. Some are made with high quality materials and a lot of time and effort and skill on the part of a skilled maker. Others are slapped together quickly, without much regard to quality of assembly and fit and materials.
They can all kill somebody, including yourself if you are not careful or if you have an accident.
Any sword, even the best and the most expensive, can fail and can break or come apart, especially if it is abused or its maintenance was neglected, or it's used in a way for which it was not designed. If it breaks or fails, somebody, including yourself or the guy standing next to you, or your pet Fido, or the neighbor's toddler, could get hurt, maimed, or killed.
I'm not sure there is a complete or exact answer to your question. But maybe this will give you some perspective.
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