I see dodgy Fenders on UK-based gear selling pages on Facebook every week. Always things like "decal put on for a laugh" or excuses like that. Often it's on weird partscasters with a MIA Fender neck paired to a Squier Affinity body with £25 Artec pickups fitted. Total mutts with one or two luxury parts and then cheapness elsewhere.
I played bass briefly with a guy who was convinced he had two MIA Strats. One was a decal'd Squier, Stagg, Sunn Mustang or something like that. It felt like a cheap ratty guitar with rough edges, but he was convinced only MIA Fender was good enough and he owned two of them. I felt slightly bad letting him down, but clearly he had decal-blindness!