Most of it is folklore rather than reality, as it is for most of the pirates of that era. A friend read the actual records of Bonney and Read’s trial as part of her degree in feminist history, and they were petty thieves who ended up in front of an unforgiving judge on the same day as several pirates were on trial. A General History of the Pyrates is a notoriously unreliable historical source, and without it there is no earlier evidence that they were pirates.
There are several women who really were pirates who have interesting stories of their own, but they weren’t in the Carribean during that time period so they aren’t relevant to this show.
And like I said, Bonney and Read are part of the folklore, so there is no reason why they shouldn’t be in this show. Just don’t go mistaking them for what is reality.