I'm a fan of preservation and fans trying to keep things they love alive, while I've never been a My Little Pony fan I admire the work Art-er of Lore did to recreate the doll and I think there's plenty of people who would love to have this doll if they knew it existed it seems like something I know some people would love. I think there's a conversation to be had about the desire for the "official" version of something and how theyre viewed as more "real" than bootlegs and recreations, there's nothing wrong with a recreation there's still work and artistry put into it and the fact that Art-er of Lore has plans to expand on the original idea is really cool.
It reminds me a bit of the Furby customizer communities, which I've dipped my toe into and hope to create a custom Furby myself one day, who have taken the time to recreate the original furby faceplates and such as it's getting harder and harder to find furbies for customizing, though in that case it was made by people with access to the faceplates which made the process a lot easier versus the work Art-er of Lore has done.