I know this is wild, but yes, Shenmue 3 is indeed very real. And yes, Shenmue 3 had a successful Kickstarter campaign and is very much still happening, even in the face of arguably better games that took on the familiar Shenmue formula-recipe for success.
Today, Shenmue 3 got its very first teaser trailer, a teaser beyond the fleeting footage at the crowdfunding announcement back at E3 2015 during Sony's press conference. The footage looks a little bit rough in the facial animation department (with a lot of motionless faces), but otherwise, the teaser looks like a faithful HD rendering of Ryo Hazuki's sad journey, a boy still hung up on seeking revenge against Lan Di for murdering his father. There will probably not be any forklifts in the hotly anticipated third entry of the Shenmue saga, as the game will still take place in China like its sequel did.
Shenmue 3 raised $6 million on Kickstarter in July 2015 and recently announced a publisher at its backing, Deep Silver. Shenmue 3 is currently due for release in the latter half of 2018 for PC and PlayStation 4.