An open mold is usually a little more expensive. But, because it's a clean sheet design, they are going to design it in CAD and run the basic FEA stuff and use the results to iterate the design. They have both a good understanding of where / how to adjust the layup and the freedom to change tube shapes to get the performance they are looking for.

Matte black with no logo, pretty stealthy

Personally, I think were not even talking remotely about the same customer groups. Somebody who actually has the cash to pay 4-6000USD for a frameset or a five digit number for a bike would never think about getting a 5-800 dollar chiner frame.
Making the fake look like the real one with logos and so on is where I definitely draw the line.

2. Is replica going to be as good as the real thing performance wise?

Absolutely not, but is it close? I would say yes, replica tends to feel less stiff, a bit heavier and a little bit sluggish. If I really need to give a direct comparison, I will say replica has 90% of the performance, in fact, we all sort of know the answer, if you get dropped, problem's on you, not the bike. Honestly if you are not a racer, don't bother, I don't really think a racer would consider buying replica anyway.

Well said! I am into trying different bikes and their geometry, testing the ride and stuff, it has been a real fun, there's no way I am going to pay $5k USD for each of them...