I've tended to stay out of the replica discussions because my current financial situation being what it is, i just can't justify buying an item of that kind of expense. However, i hold onto hope that that will eventually change - and i know that threads like these are just as valuable for the free market research companies get from the most active/hardcore fanbase as it is the info we get on our end so i have to pipe up here.
The ONLY way i could support something like SW versions of replica Muppets would be if they were done along with the regular versions and if such a practice was seen as a way to keep the costs of the regular ones down. With all the money that a replica costs, i would want it to be the character as the character i know and love...not some dressed-up-in-a-Halloween-costume-THAT-CAN'T-EVEN-COME-OFF variation! And especially not one that a character never wore or wore once for an obscure photo shoot or something. I could take (grouchily) a Kermit Cratchet, Kermit Smollet, or Scarecromit because those are well recognized in Muppet History. Not only do i have NO problem whatsoever with a Reporter Kermit but actually ENCOURAGE one is because that's a very iconic and long-lasting variation of the character.
Fans want replicas because many of us dreamed of owning a genuine Muppet. This is the closest we can get. It wrecks the dream when the Muppet is some bizarro universe varient. It's like spending all summer toiling extra hours for some special gadget that when you get it, turns out to only run on batteries and only about fourteen minutes before needing new ones - a total shattered idea of a dream.
As mentioned, as long as these are available in addition to - and not in place of - "regular replicsa" as a measure to keep the "real" ones' costs down, i can live with it. Fans get what they want, SW fans get something they might like and the completist collectors who will insist of owning anything no matter how stupid, insane, or downright fugly have something else to spend money on that i'll shed no tears that i can't own (and probably wouldn't if i won the lottery.) The only SW Muppet that might give me pause would be Gonzo as Dirth Nadar because - again - that was more of a recurring gag with him instead of something randomly pulled out of a hat.
SW-themed Muppet PVCs or action figures are fun and cool because they're inexpensive and they don't keep others from being made. Replicas are a whole different story - if you're gonna do 'em (and we're gonna PAY big bucks for 'em), they better be done right.
To sum it up, i would much rather buy a poser replica of the horribly ugly continually-made-fun-of-by-fans-after-we've-picked-our-jaw-off-the-floor-from-seeing-it Mini Zoe from this season on Sesame Street than a SW Muppet replica because eyesore that it is, it still resembles the real thing (though the ugliest version of one that no one can believe was conceived by someone fully sober)...and isn't that the whole meaning of replica?