The premise is more about fictional style martial arts with fireballs and whatever actually existed. It's somewhat realistic until you realize that these types of martial arts must have always existed. In which case, people should already have a better understanding of them. Unless Korea in this is special and it's the only one that ever had such arts(which doesn't make sense to me).
Other aspects don't make sense despite it. Like the brutality of it is inexplicable. You'd have all sorts of laws being broken, at a large scale. fact is you can't just say the government is in on it because things don't work that way. The police have a sort of independance, the fbi has a sort of independance from the military if they see a crime going on.
Another critique is that it all happens within this limited boarding school environment. The art is good but the women are kinda all ridiculously big breasted. Another odd thing is that there already seems to be a martial art that's beyond any other in terms of power(with about two others that are almost as strong).
Overall I don't think this is a bad manga, but I don't particularly like it. It is interesting to see a world where people treat these fictional abilities as real, studying them and trying to make the best of it. But it's doesn't match things are and were done with martial arts(or any other skill). Scientist wouldn't need to use these methods to study them. And this would be needless even if its all just research. These things are skills but skills have a varied use, and in militaries, people are taught these uses to fill roles. Like bomb disposal, and inflitration ect. All the fighting the students do would be unnecessary if a skill is useful.
The whole veritas isn't any different than usual, people usually have different reasons in any story. that aside, some of the nonsensical-ness(not all) might be lessen if you view these people as gangsters or maybe assassins(though they aren't. Honestly martial arts have never worked that way overall, while some house styles were passed down, fact is that they were used to wage war. having few people able to do that doesn't defend a nation.
Still, I want to give this manhwa some leeway because it is interesting, and while it doesn't start well told, it definitely matures as it goes along. So the way these people act makes more sense in a gangster sensibility context(of families,groups ect). Though in a school type of setting for research it certainly doesn't. So just think of it like all these gangster-like groups thought it was a good idea to send all their kids to this school(to maybe unite them, or supplant them), but they still have hostilities. Course, doesn't make sense to have them fight unless it's just a bloodsport to let them kill each other. The whole research angle falls apart and didn't make sense in the way it was executed. Though a manga about fictional martial arts being treated with realistic scientific interest sounds... well interesting.