Do we subscribe to this? I've heard it called cartoonish, I've heard it being called nonsense. I actually happen to quite like it. I think temporal conceptions of hyperreality are somewhat misguided - hyperreality is certainly perpetuated, heightened, forced into overdrive by the reterritorialising capacity of capitalism; but certainly a hyperreality has always existed as dictated by the dominant powers of any epoch. Hyperreality is reality overcoded by a despotic signifier.
It's a Baudrillard thing. I find his essay 'The Ecstasy of Communication' to be one of the more accessible, thought provoking, and interesting pieces centering around conceptions of the hyperreal.