I am certain some sugar babies are genuine. I have one regular Korean sugar baby who actually enjoys it. She likes to tie me down and use me. I can see that she is enjoying herself, it’s not a BDSM thing she just likes to tease me and she gets off on it.
I also once met a Brazilian girl on sugar daddy.com who just wanted to fuck. No money involved. We still meet about once or twice a month. You are right, some of them enjoy themselves but less likely to be the WLs