Its not the case that one could easily be confused for the other, but there are similarities. Colorful characters, running around in spandex, fighting outlandish villains? That's a pretty big similarity. Wrestling and superheroes have a certain synergy, making it more enjoyable to be a fan of both.
The astute wrestling observer will, over time, begin to recognize the different techniques, strikes, and holds used in matches. These moves, while executed in the realm of a fake sport, are based on real world fighting techniques. Each wrestler has to train and practice in their particular fighting style in order to be able to perform their maneuvers without harming the other wrestler. The arm bar is a common example of such a maneuver. The arm bar is performed by using the leverage of your body to hyper extend your opponent's shoulder joint.
It looks something like that. This is the same attack that Huntress uses in this season's Arrow to disable some goons. Similarly, Black Canary in the Justice League Unlimited series performs another common wrestling move, the hurricanrana on one of a group of thugs robbing a warehouse. The hurricanrana involves wrapping your legs around your opponent's head in a head scissor and then using momentum to drag him or her to the ground.
Recognizing these movies in the superhero world adds a little authenticity to the hero's abilities. For example, it feels more realistic to see Wonder Woman use Greco-Roman moves as opposed to simply kicks and strikes. Beyond all that, though, its just that much more entertaining to be able to recognize crossovers between the two different forms of entertainment.