Replicas are fun cars when they pay tribute to great cars.
Porsche Speedster replicas are a good example.
They use almost original parts (junkyard VW Beetles) and create a replica of a beautiful car for very little money.
Things start to go a little bad when people take the never-loved but always underpowered Pontiac Fiero and TRY to make it look like a Ferrari.
Finally there’s the completely wrong ideas like the Chrysler made into a 600 SL of last week - the car above definitely falls under the last category.