It isn’t fake. Libre is a real french word that means “free to do [something]” or “free from [something],” along with a few other meanings.
I do think the pronunciation issue is going to hamper its adoption, though. If it’s pronounced as it is in French, it’s very similar to how we say the zodiac sign “libra,” but if you don’t know it’s french, it could easily be Spanish/Italian/Latin and be pronounced “leebray.”
The fact that it’s not an easy word to know how to pronounce means that people who have only read it will be hesitant to use it in conversation or public speech.