Indeed, there’s nothing magical in a math or physics, and just as we have a lot of HW clones of some vintage devices (and some of them are really good), why we just can’t have plugin clones?
On the other side, i think it could be OK only if an original product has been discontinued, or if clone has advanced features that original missed. If it was like “oh, a sine waveshaper it seems!”, and then just making your own sine waveshaper with original code and that looks original… but making it looks 1:1 to original which still sells for fair price (i mean, 30$) - so-so…