It is in fact a point of view (5)
I believe the answer is:
facet
'view' is the definition.
(I've seen this in other clues)
'it is in fact a point' is the wordplay.
'it is in' indicates putting letters inside.
'a point' becomes 'e' (E is an example).
'fact' enclosing 'e' is 'FACET'.
'of' acts as a link.
(Other definitions for facet that I've seen before include "Smooth surface of a gem" , "Small surface (of diamond)" , "Side or surface, diamond or building" , "Gem's cut side" , "Small flat surface of cut gemstone" .)