Does it matter if Obama is a fraud?

I've just been watching Jim Hightower on BookTV, discussing his latest, "Swimming Against the Current." One of the first questions in the question and anwer segment was, "which candidate do you support, and why?" Predictably, as Jim is a leader in the progressive movement, his answer was "I supported and endorsed Obama." But he added that a primary reason for his endorsement was the "the phenomenon around Obama"--the mass movement of people becoming involved in politics for the first time because they believe it's a chance for real change. He believes, he said, that Obama would "bring us into the White House with him." I appreciate that the hardening of the progressive community around Obama almost from the beginning is largely for the same reason. But my question is this:

If Obama is a fraud, as I believe, simply using the good will and faith of millions to advance his own ambitions, does it matter? Does it change the Hightower/progressive equation?

I honestly don't know the answer. But the fact that the question has been ignored by the progressive community, that it has willfully blinded itself to the obvious--that Obama is extremely ambitious and has very little to show for his supposed commitment to progressive ideals--is what has made me angry from the beginning. As the campaign has gone on, Obama's sexism and willingness to play dirty political games of racial "gotcha" targeting Hillary Clinton has hardened me against Obama and the large number of his supporters who seem closer to manaical than idealistic.

So, does it matter if Obama is a fraud? For me and millions of others, the proof is already there.