Yeah, the Felt "badge" on my AR4 doesn't seem like an identifying badge at all - it's only a fancy termination of the graphics/striping.
The size and colors of the badge on my Cinelli are consequent to the overall graphic design, but it's clearly there as branding, and wouldn't make sense
except as paint or a decal.
This one, kinda classy, I think, is more like a lapel pin than a badge.