I have no issue with it. I think, at their best, homages help celebrate designs that would otherwise be inaccessible to people who like them. Plus, they help keep a design/story alive.
ha ha... yeah, that counts, and with Seiko, totally makes sense. I really like BOLDR's watches*. I think for the price they are doing something really special in terms of specs and materials, plus they have a refreshingly modern design sensibility. Some are a bit large and clunky for my tastes, but they all are fun and well-built in my experience.
*For transparency: I sell them in my store and have worked with them on various projects