This is a good question. And a complex one.
I will say that, yes, drama is an imitation of life. Drama (both as actors/players and as audience) allows us step out of "real life" for awhile and practice or play out the emotions, relationships, and rituals of life in a safe and charged space. Drama is all about relationships...as is life. Relationships with friends, family, enemy, self, nature. And, as we know, relationships are extremely difficult to navigate. Drama seeks to take relationships apart and put them back together in different ways so that we can ask new questions and consider new choices when we get back to our "real lives."
So, drama, to me, is more than in imitation of life. It is a laboratory for life.