In the car world, one might choose to make an SS replica, for example. So, one would start with an non-SS El-Camino or Camaro, and then add a bigger engine, some decals, and all the bells and whistles that a true SS would have originally had. Practically speaking, with all the spare parts available, one could make a car that was indistinguishable from a true SS with the exception of the VIN number.

However, part of "Hot Rodding" is embellishing the original, and there is a lot one can do to embellish a 40+ yr old car. So, one might not only make an SS replica, but make it better than new.

In the bike world, that may be a bit more difficult to do. One could repaint a lesser bike to look like a more expensive model, but in many cases, the frames are made with different materials... so one gets a look-alike.

Now, I have been eye-balling a 2011 Specialized Tricross on Craigslist.

There are 3 models:
Tricross (basic) 8s Shimano 2300
Tricross sport Tiagra 9s
Tricross comp 105 10s

As far as I can tell, the frames are identical (maybe), but they have subtly different paint jobs.

An option, of course, would be to buy the basic 8s version, and upgrade it to be functionally equivalent to the "comp" level. Perhaps even better now that 11s is available.

So, in a sense, one would have a "replica", in a sense, it would just be an upgraded bike. I wouldn't care about the difference.

In the classic world, one can start with a lousy frame. Upgrade components, and perhaps the paint, but end up with a bike with nice components and a lousy frame.