With the technology today there is no reason this couldn't be done. There are tons of these cars out there that look great until you open the hood and then it becomes a disappointment because the hood liner is ratty. I've gone to a few shows and seen some nice looking custom embroidered hood liners for these cars. You can still buy blank hood liner replacements with no lettering from GM as far as I know. Why can someone not reproduce the original lettering in a stick on or Velcro form to put on one of these? Embroidered hood liners could also be a possibility and would probably last longer and look better, but they wouldn't be like the originals.
The fakes on the market have bothered me for some time.
There is a correct stencil that has been made for the hood pads. It was being sold last year at the Nat's. The problem is that some are spray painting the stencil onto a blank GM 8-hole hood pad and trying to sell it as NOS for a huge price tag.
It's sneaky that the pad is NOS GM, BUT the stencil was just painted.