That is the logical fallacy of the false dilemma, although three-way instead of the usual two-way. A fourth possibility is that Jesus is misrepresented by those writing about him.
Absolutely correct.
The only problem I have with that possibility is that most of the accounts of his life were written within the lifetime of the eye-witnesses.
It's the same problem today's "holocaust-deniers" have - too many eye-witnesses - too many people that can attest to the facts...
It's also very difficult to believe that his disciples - to a man - would accept a gruesome death (or banishment to an isle prison in the case of John) in support of known hoax.
If his followers lied about Christ why did they not recant. They were persicuted, humiliated, hunted down and killed. I wouldn't die for a lie, how about you?
It must be a sad existence not to believe in anything meaningful, and to enjoy casting doubt on anything that might lead to meaning.
You are denigrating meaning, my friend. May you find truth before you die.
A fifth is that, given the circumstances (the relatively recent destruction of the Maccabean kingdom and Roman conquest), for a Jew who believed that his religious scriptures actually meant what they said to expect the imminent arrival of a Messiah was not "lunatic" at all -- and if the Messiah is coming, why should it not be one's self, if the signs seem to point to that?