A little, yeah. I wrestled with this as a parent as my kids got older and older. At some point my seven year old asked me is Santa was real and why we would tell her he’s real. Explained the fun and magic of Christmas, etc and I don’t think it was traumatic or anything, but definitely made me feel a little down.
Parents "lie" to their kids about things like Santa because they remember the magical world that was created for them from their own childhoods, before the reality of a world with no Santa, murder, disease, death etc intruded on their reality.
Which is better, telling your child:
"yeah you will lose all your baby teeth and each one will hurt and bleed and make you look silly with big gaps in your mouth"
or
"oooh you lost a tooth, now let's put it under your pillow and the tooth fairy will exchange it for a little gift while you sleep"
I don't understand why you put "lie" in quotes. Even if you believe it is done for a good reason, it is most certainly lieing.
You have a wide variety of choices as to what to tell your child that doesn't include lieing. You can celebrate the loss of a tooth as a positive step of growing up without telling a lie about a creepy fairy that sneeks into houses and collects teeth.
Adults may rationalize to themselves that they lie to children to protect the children, but I think it is often more motivated by the adults' desire to avoid having an uncomfortable and difficult conversation.
Memories are real, experiences are as real as one wants them to be.
We all learn critical thinking and separating fact from fiction eventually, but that doesn’t mean you can’t look back fondly on experiences you enjoyed as a kid.
Or... They could appreciate the amount of effort that their parent made into making the world magical for them, they might reflect on that when they have children and do the same, and they'll be grateful for a wonderful upbringing.
I think it would be a really amazing experience, but I would be bummed out to find that my favorite childhood memory wasn’t real.