Perhaps the manfacturer would argue that the intent is to "capture the spirit". Which they have done. Having been looking at some of the Colt SAA and cap and ball clones lately, if there was a serious intent to deceive we would be having a much more difficult time of it. If anyone ever starts cloning No.4 rifles for the re-enactors then a concerted effort on cloning the sniper version will surely follow. (Personally, I'd think a new action body with integral pads would be a hoot!)
ETA: Evil fake Henry:
One of the original "assualt rifles" and thrown essentially untested into combat.
Got it for 100 times less than original! Artificially aged from the factory, even. But new bore, accurate, and buckets o' fun.