Fyre Fraud convincingly identifies the fraud-fest as just one more chimera of modern times, a 24-hour game of "let's pretend," in which one cannot tell if someone is a delusional liar or the smartest person in the room.
If you love a story of absolute, no-holds-barred, extravagant disaster, you'll probably want to watch both. But if you just want a better idea of what the heck happened here, the truth is that either film will serve.
The Hulu doc works harder to paint a bigger picture -- such as how McFarland was able to access large amounts of money to fund his schemes. However, its patronizing depiction of millennials may well alienate many of them.