"If it is realistic" depends on the system being modeled. A standby system with two generators and associated load would have the two as swing generators and you wouldn't have any PV generators. On the other hand, if you have a system where you have multiple sources each contributing a certain load then you could have several PV generators. A PV generator will supply vars, within its capability, at its scheduled watt output, but will it have the capability to supply (or absorb) a sufficient quantity of vars? There can also be baseload machines running in PQ mode supplying a scheduled amount of watts and vars. The swing bus/swing source is where the software can find the necessary watts and vars necessary to make it all work out.
Unless you can model the entirety of your system, all generators and all loads, you will have to make some compromises and you have to know when you are close enough.
The utility connection that always gets modeled as a swing bus isn't really, load will change the voltage, but not by much and not enough to make worth the complication of modeling those affects. Part of engineering is knowing when you are close enough to the answer. If you have line models that get you to within a percent or two of the correct phase impedance (never mind your zero sequence impedance) then getting the contributions from each source nailed down to the 1/10 of a percent is false precision and a waste of time because you are now at 1/10% +/- 2%; whoopee!
If your maximum load change is small compared to the system feeding it, you can treat the source as a swing source with instantaneous response, not exactly true but close enough. On the other hand, if you are modeling 1.8MW of load being fed from two 1MW generators you will need to see all the system effects. If the software places the generator impedance after the voltage control point (the right place for fault studies but the wrong place for load flow) you may have to adjust the voltage of your swing source to overcome the voltage drop of its internal impedance.
I'd start any study with all sources as swing, but with a rated capacity, and see where the numbers fall compared to how you think the system is going to operate. If the result is close to how it should be, then you might find it could operate with reasonable stability. If you have to use PV and PQ sources to force significant changes in load flow you might want to reexamine your expectations or your model.
Yeah, if you've got local generation running in parallel with the utility and the operating mode is fixed watt and var output go ahead and model it that way; but any source that has some freedom of operation should start out as a swing source and then be modified if/as needed.