Pseudo-archaic

To dramatize Norse myths, he created a pseudo-archaic form of German, whose cadences dictated the stately melodic lines, which in turn flowed together into endless scenes.

If you look the word up in the dictionary, you will find it is a “pseudo-archaic spelling of fair”. So the fayre is a pseudo event.

In the pun-riddled libretto by Ernst von Wolzogen (a satirist and cabaret figure), all this is expressed in a mixture of Bavarian dialect (poorly rendered by this American cast) and that easily lampooned hodgepodge of alliteration and pseudo-archaic German of Wagner’s own librettos.