Complex sentence: As the novel unfolds, and the novel-within-a-novel becomes ever more obviously inspired by real events, it is revealed that Iris, not Laura, is the novel-within-a-novel's true author and protagonist.
Split into simpler sentences: As the novel unfolds, and the novel-within-a-novel becomes ever more obviously inspired by real events, it becomes clear that Laura's novel is not what it seems. It is eventually revealed that Iris herself, not Laura, was the novel-within-a-novel's author and protagonist.