It is pseudepigraphal. I don't think anyone believes it was the actual Enoch of Genesis that wrote it. That also doesn't mean it's a fraud, it just depends on what a person is using it for. If you're using it, as I do, to get a glimpse into the mind of a first century Jew and how they would have interpreted certain Bible passages and theological concepts, then great, that's what it's for. That being said, it is not regarded as canonical and inspired text.