>>535701491
Likely, yeah. She obviously doesn't exist in material reality, whatever she is
Her completely no-selling the Bronco's sputter and smoke tells me her spirit does seem to be following or guiding them.
Which is why she would be unaware of the physical changes around her, and why the burst of air does not affect her at all.
Sometimes she is perfectly "Aerith", like in that clip, or when walking by Nanaki and Tifa...but other times.....well.

I think it's Jenova.
In what version of reality would a sweet girl like Aerith appear in front of her lover as a ghost, right in front of her own grave, directly after her own burial?
What kind of good natured friend and lover would willingly torture that loved one after their death?
Willingly torture her friends by making Cloud act 10x worse?
That's not really Aerith. And it seems obvious to me.
She knows exactly where she is seated when she first appears. She's not there, then a burst of static occurs, and she's suddenly there.
Shrouded in darkness in front of her own burial sight, the camera slowly pans to her cold emotionless smile.
A corrupted/slowed down, off key Lifestream theme motif rings out.
A smile and reassurance from his freshly buried companion completely erases all grief from Clouds mind.

It's a projection from inside Cloud's mind. It's born from his Jenova cells.
If Jenova can appear as loved ones and dead people (Glenn in Rufus' office) then it's only natural to assume Jenova could also appear inside of Cloud's mind exclusively.
All of the times that Sephiroth talks about Tifa being the one who is dead/killed/a ghost...it was nothing but a red herring for Aerith's death.
"You know I killed her. So, who is she?"
Sephiroth consistently reveals information about what's going to happen next in both Remake and Rebirth.
Everything he says in Remake only makes sense after Rebirth.
Everything he says in Rebirth will only make sense after Requiem.
That's my theory.