No, it doesn’t look photoshopped. And I have done imaging software for a living, enough to be called into court as an expert witness.
And obamas .pdf of his BC proves 100% that it is a fake. If he had just released hard-copies, it would have been harder to prove, but it would still be a fake.
It looked photo shopped to me. Matter of opinion. BUT he has just admitted the photo is real...so the point is moot.