Another possibility...

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I suddenly realized something, Tsumugi said something about "the ultimate real fiction" at the final class trial of the game, explaining the characters of the first game and the second game exist, then if that's the case, I have another version of this theory... 

Tsumugi said she worked with team Danganronpa to do this killing game, and I agree, if she's really telling the truth, then I think this is what happened...

Junko Enoshima, her sister Mukuro, and their friends Makoto, Kyoko, Byakuya and the others wanted to be famous actors and actresses... They were practicing everyday to reach their goals... However... They didn't have so much luck, and they were always in the shadows, when they wanted to be in the spotlight... They were tired at some point, they wanted to give up...

But one day... Junko had an idea, the perfect idea to make the perfect show, with that show, they would be finally famous, Junko was sure of it, their show was going to be the best tv show in the world...

That's right, the creator of the DANGANRONPA team is Junko Enoshima herself, she was rich already, but she wanted to be a star, that was her dream and finally she knew how to reach her goal...

She told her friends her idea, she wanted a bloody tv show, filled with mystery, Truth, and lies all over it, her friends (Makoto, Celes, Kyoko and the others) liked the idea, so they were gonna be her partners in her new Danganronpa team...

And they did it, the show was totally the best thing they did as actors and actresses... Everyone loved it! They wanted more and more of the whole show!!!

Junko and the others were so happy, they did the second season of the show, and everyone loved it again!!! They were really famous around the world, however, it was not enough for this world... They wanted even more...

At some point, Junko was really tired, and not only Junko, her friends were also tired of the whole show, however, they didn't destroy the franchise, they called Tsumugi (another famous actress and a fan of the Danganronpa franchise) and they asked her to be a participant, and also the new mastermind of the show, Tsumugi accepted of course, she was happy...

Junko was already rich, but thanks to the franchise she created, she had even more money now, and Makoto, Celes and the others were rich now too...

Of course they were still observing everything, after all they were the creators of the DANGANRONPA franchise, they were planning everything while they were calling people who wanted to be participants of the show...

Just like that, they were gaining power and money everytime, but at the same time, they became monsters, they wanted to spread their influence around the whole world, that's why Tsumugi said what she said at the final class trial of the last game: "everyone loves this show! Don't just end Danganronpa, we supported you, you owe us!"

At some point they were really cruel monsters, they accepted more participants but they warned them if they die in the simulation, they would die in real life too..

That's right, once they had enough money thanks to this show, they created a simulation program to do the show again and again, so if you die there in that program, you also die in real life...

But at some point, they were finally defeated by Shuichi Saihara-kun, a participant of the last killing game, I think he was capable of destroying the whole show because maybe Naegi, Sayaka, Chihiro and Kirigiri were feeling guilt for all they did with this insane show, they wanted to destroy the whole show once and for all, giving the best detective abilities in the simulation program to Shuichi Saihara... And giving the best charisma to Kaede Akamatsu to stop Tsumugi and the show once and for all secretly... They also gave them strong personalities to never give up, to find the truth no matter what...

Tsumugi realized at some point Kaede and Shuichi had abnormally strong abilities against her plan, which almost destroys the whole killing game in the first class trial of the last game...

But finally, Shuichi did it, Tsumugi was defeated... The whole world was defeated, they realized they were so wrong before... They didn't want to watch this show ever again...

Junko and her partners were totally surprised at this moment, but it was too late to do something, they were defeated forever, maybe they noticed someone betrayed them in the group... But even so, it was too late...

That was the true end of Danganronpa... The worst killing game in human history...

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