Once Upon a time.
Akazukin true self ascended to a higher level. Akazukin manage to surpass the likes of The Big Bad Wolf and all of the fairy tale city.The reason she became so godlike is because she trained everyday to reach a level no one else in the Fairy Tales could reach. It took her ages to gain the god like level. But at some point aging didn't even matter anymore. What she did was no normal training but rather a special one together with the higher dimensional angel called Rosa. The sweet angel called rosa is always up to help someone, she could have just give her the Godlike power but she wanted to train Red. The reason she wanted to train with her is that she need to understand how things work in a higher plane of existence. If she just gave her the godlike powers it would be way to dangerous for the fairy tales and the human world and it could lead to countless death/destruction of others.
After she completed her she gained Godlike perception and Knowledge. She knew all things that were told to her were either truths or lies, but it doesn't matter to her anymore since she is beyond truths or lies. The world of imaginations and faith called the Fairy Tales City was nothing more but another Imagination to Red. She could have destroy/shape or recreate all of the fairy tales with her imagination but decided to keep it like that. And let wonders grew in her imaginations. All of existence in the human world or fairy tale city was nothing more but wonders toward Red. She didn't want to waste the wonders of life.
The Godhood of Red was so immense powerful it had abilities like having endless abilities no one would thought about or that she is immune to everything. In fact she isn't living anymore neither immortal or death neither undead or amortal she doesn't fit in those catagories anymore she was truly in an undefined/undetermined state, outside of the standard categories of existing creatures.