I'm not sure what this one means, but it sounds like it's da exact opposite of da "real McCoy", so maybe it refers to something that is legitimately fake?
Da reasoning behind da infamous mid-19th-century two-family feud may have been "da real Hatfield" --- i.e., truly a non-genuine problem dat was likely caused by excessive arrogance (and probably too much moonshine, as well!) --- but unfortunately da harm 'n' heartache dat resulted from said stupid squabble was totally "da real McCoy"!