I think it was staged. Chris Rock and Will Smith are professional actors who could easily pull this off. I mean, Will Smith won the Oscar for Best Actor. Of course, he could pull this off.
Who benefits? The Academy Awards, Jada Smith, and Chris Rock have gotten a ton of publicity. Ratings have been in the tank for years and Jada hasn't had many movie roles in the past five years. This puts Jada back in the spotlight for movie roles... great career move for her. She was stunning in her role as Fish Mooney in the Gotham TV series.
It's great publicity for Chris Rock. People will tune in next year just to see what he jokes about that's over the "woke" line.
Frankly, the publicity even benefits Will Smith. Most of his fans don't care one way or another if he smacked Chris Rock. He apologized. Besides, I think he'd do it to help Jada's career.
I think it was staged with the Academy's blessing, but they backed off when the public outcry was far greater than anticipated. Hollywood isn't exactly in touch with the pulse of America.
Maybe the Academy can ask the WWE to choreograph it even better next year.