"Based on a true story" seems to be a clear mark of fiction these days. The question isn't whether something is "based" on a story but how much of the base is covered with a load of fictional crap. I"ve never understood the supposed lure of that phrase anyway; if the story is worth telling because its true, show me the truth; and the truth has to be tarted up with lies to make it worth telling, why not stick to honest fiction? Yes, truth CAN be stranger than fiction, but an awful lot of it just deadly dull.
Lee