It's a sport, with one man pitting his skills against another. It is not just a power struggle it is stratagy, skill, endurance, strength, technique. It has long been debated as to which martial art is the best, the UFC gives athletes a chance to prove it.
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No, Herschel Walker is not fighting in the UFC. He is fighting in Strikeforce
Wrestling, as you would see in the olympics, etc, is a part of UFC fighting, but UFC fighting also contains other elements of fighting, including kickboxing and various styles of groundfighting. If you are asking if the UFC is the same as WWE, no, it is not scripted in any way.
MMA is mixed martial arts and is a sport. UFC is a organization for the sport. It is not the only one. Think football = mma, NFL = UFC.
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Royce Gracie.