When it was leaked a few years ago, it was widely reported to be an actual document. All of the articles from the period said that Arnell Group wouldn't comment

When it was leaked a few years ago, it was widely reported to be an actual document. All of the articles from the period said that Arnell Group wouldn't comment on its authenticity. I think it was definitely created by Arnell Group, but whether it was actually prepared for Pepsi's executives or whether it was a viral marketing campaign is still pretty much unknown.