Question 1: Is it real?
Although everyone on the internet immediately assumed that this was a Photoshop job, it turns out that, according to all the best evidence, this one-eyed shark is real. It isn't alive, and it isn't even fully formed, but it does seem to be real. At the very least, the world's leading shark researcher is investigating the body, and he says it's real.
It's as real as we're able to verify, given that we are all sitting on the other side of a computer screen.
The story behind this bizarre creature is that it was one of several fetal bull shark pups which were found inside a pregnant bull shark.
Question 2: What's with the eye?
This fetus is suffering from a birth defect called Cyclopia. This is a congenital disorder which is found in 1 of every 16,000 live births, and (as you might expect) presents with one single eye in the middle of the face. It usually causes facial problems as well, such as the lack of a nose, or the malformation of the mouth.
Question 3: Would it have lived?
In this case, the fetal shark appears to be fairly well developed. It might have lived, had its mother not been killed. Other cyclopeans have survived a short time after birth. The most well-known of these was a Cyclops kitten born a few years ago, who died after about 24 hours.
It's hard to tell from the pictures, but it doesn't appear to have developed gill slits. Cyclopean animals rarely live more than 24-48 hours, and that would probably have been the case with this little fellow as well. The truth is, the birth defect which causes the single central eye often causes other, bigger underlying problems.
Question 4: Who's killing pregnant bull sharks and taking out the babies, and why?
This isn't a threatened species, but it will be if people keep killing the pregnant ones for no apparent reason. None of the news reports about this freak shark fetus mention any of the back-story behind its discovery.
Bull sharks are unique among shark species, in that they can and do easily adapt to fresh water. This means that they can travel long distances up-river, and even live comfortable lives in freshwater rivers and lakes. There are other species of shark which can sometimes be found in freshwater or brackish water, but the bull shark is the undisputed king of freshwater life.