So first off I do not claim to be an expert in swords. I've forged a couple swords that knowledgable people really liked. I've had some training from expert sword smiths. I've had the opportunity to handle (as in swing around, find the node of vibration, the node of rotation, etc) some original viking era swords, and some old katanas. I'm always trying to learn more about swords. So I'm more knowledgeable than the average bear about swords, and have a good mix of practical knowledge and academic knowledge.
So with that caveat, here are my rules:
1) If it looks like sheet metal, it is sheet metal. It's not a sword, it's home decor.
2) If it costs less than $400 new, it's not a sword. It's a SLO - a Sword Like Object. And I'm not talking about swords you find at estate sales, desperate buddies trying to sell their stuff to pay the mortgage. I'm talking modern retail. The economics of producing a quality blade even using CNC and all sorts of automation really dictate that a 'Real' sword will cost at least $400. You will find stuff that seems like a pretty good sword under $400, but it's probably a bad sword at best and will run afoul of rule #3
3) If you pick it up and think "Wow, I'd need to be stronger to wield this in a fight" it's not a real sword. Real swords are light and fast. I once was walking through a Ren Faire and we were passing a weapons retailer. My buddy said "Wow. Look at that two-hander. You'd have to be a monster to wield that." The retailer heard his comment and said "Naw! It's only 16 lbs."
That's only about 11lbs over-wieght. Most historical two handers weight about 5-6 lbs. Most 1 handers weight less than 3.
4) If it handles like a baseball bat, it's not a real sword. Real swords are carefully balanced for the type of fighting they do. Which leads me to my last rule...
5) If you pick it up and it doesn't immediately feel right, it's not a sword. A real sword tells you what to do with it. You don't need to be a fighting expert. You don't need to do a sword kata with it.
I got to handle an original Ulfberht viking sword. I just picked it up off the table and my brain/body said "Oh yeah..." No questions, no reservations. I knew what to do with it. It was light, fast and went where I wanted it to go. I started looking around for some unsuspecting Franks...
And no, I have no interest in debating the meaning of the phrase "a real sword".