I suspect there's a direct correlation between the demise of the UFO photo and the demise of film photography.

Back in the early 1970's my brother and I did a faked UFO picture, on color print 110 film. Vivitar 110 camera with flash, if I recall correctly. I'll have to find these images and post them. We used an aluminum pie tin, suspended by a thread from a broom handle. The person holding the camera crouched down behind a shrub at night, pointing up to the sky, with the UFO suspended in the air behind the shrub.

We thought it was cool.

As for faking a UFO picture today, I suppose PS has killed off any possibility of credibility. In the film days, you could still fake such pictures, but it was harder to make it believable.

~Joe