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I would guess that the replacement wheel is functionally the same as the original, meaning its dimensions are the same or reasonably close to an original. The reproduction wheel on the other hand should not only be functionally the same, but also reasonably close to the original in all other aspects as well.
For example, there are a lot of non-original rally wheels offered by various vendors. Some of the replacement wheels will actually have 10 bolt holes in them (giving them essentially two different patterns). While this would make them suitable for two entirely different vehicles, they would not normally be considered reproduction wheels for either.
The difference is that the repros didn't come from the Corvette factory. And, those that care about such things can tell the difference.
If you have an "all factory correct" car, it would be important to find 'factory-original' wheels for it. If your car is not "all factory correct", then having aftermarket wheels on it would make no difference to anyone.