Hashi being tricked by Genjutsu is more plausible than Madara being tricked by a wood clone, imo. Especially after Madara specifically stated he could see through wood clones.Good job on outlining a lot of the detail in the evidence presented to us by Kishi.
There are unfortunately some who think it's completely far-fetched that Madara could have perhaps survived through some form of genjutsu.
Plausible theory.