This paper addresses some problematic antirealist implications associated with the common idea of reality as a discursive construction. First, it introduces the ambiguity of the expression “construed reality” which can be applied to different ontological domains such as physical and virtual worlds. Then, it presents an overview of the modern notion of discourse in human and social sciences to highlight the epistemological conflict, within semiotics, between its critical and philosophical interpretations. In the former case, discourses create ideological realities from arbitrariness of meaning. In the latter one, discourse is the very way through which humans can construct truths which are not necessarily arbitrary. To reflect further on this, we examine Vattimo’s hermeneutic perspective on the construed nature of reality and meaning which do not rely on the notion of discourse. This brings us to argue that the notion of discourse is both risky and essential for semiotics. As a solution, we propose a ten point argument considering discourse within a perspective based on a distinction between real and reality.