The World-e levels certainly exist. They're not like super bad-bad but their whole "borrow enemies/items/etc. from other Marios" gimmick has been done so much better in so many fan projects. :P
I think raocow put it pretty well in the last episode of his LP of these levels: "it's kinda funny to think that if nintendo was in the business of doing rom hacks, they'd be pretty bad at it. like this is a bottom-tier rom hack experience. but it's interesting because it's official."