Special Relativity. Lifetime.

[John 6IX Breezy]

I agree that time is an illusion, but perhaps not in such absolute words. As such, theres no such thing as "time" that can be affected by the event horizon. What does exist are conscious being that perceive a slowing down of motion at the event horizon and attribute it to a slowing down of time, or rather don't perceive it if they are in it themselves and their own mental processes are slowed down as well.

If time does exist independent of our minds, we are not in a position to observe it. So the illusion comes when we perceive changes in motion as if they were changes in time.