I would consider the likes of Sadowsky, Bacchus, etc as refinements of the original design, rather than replicas. They exist because they have (arguably) improved what were stunningly good designs to begin with, continued the evolution of the instrument in keeping with advances in technology, whereas the company currently manufacturing basses under the Fender name have only sought to refine their manufacturing process to churn out greater numbers based on the original design also (and rehashes and mishmashes of other vintage designs), but I put it to you, do you think Leo Fender would have approved that shocking and lazy route under the scratchplate of the American Jazz bass for example? I wouldn't think so, personally. Leo Fender went on to embrace active tecnhnology with Musicman and then design arguably his finest bass in the G&L L2000. The Fender brand currently is a backwards looking money making machine, whereas the original Fender ideal was innovation and revolution (and money making).
I see Fender these days like a tribute band who somehow came to posess the brand name, who repeatedly regurgitate the old hits wearing the old clothes. The ones derided in this thread are actually the ones who've tried to do something contemporary while still embracing the classic template and it is they, not Fender, who are closer to what Leo was about.