The concept of a black hole is examined through a historical lens, emphasizing the distinctions between its mathematical definition and the observed phenomena in the cosmos. An essential point of contention is highlighted, the challenge of reconciling the ultimate state of gravitational collapse, conceptualized as a black hole with its associated future event horizon, with the vast age of the universe as measured in cosmic time. The work delves into the evolution of black hole theories, tracing their development from the early mathematical solutions, such as the Schwarzschild solution, to the contemporary understanding shaped by contributions from Hawking and Penrose. The complex interplay between mathematical descriptions and observational realities is explored, shedding light on the difficulties inherent in merging theoretical concepts with astrophysical observations. A particular focus is placed on the discrepancy between the theoretical formation of a black hole and the seemingly infinite cosmic time required for the collapse process according to the seminal work of Oppenheimer and Snyder. This apparent incongruity raises questions about the nature of objects labeled as black holes in astrophysics and prompts a critical examination of how observational data align with theoretical predictions. In essence, this exploration underscores the need for a nuanced and critical analysis of the concept of black holes, considering the intricate interplay between theoretical constructs and empirical observations within the framework of General Relativity.