I guess that's why there is such discussion. IMO and it is an opinion, it is a Franken if the work is not done by the brand itself, but by an independent watchmaker or another brand altogether ...of course the next question is what if an independent as part of a repair job has to use replacement OEM parts? no, it is not a Franken IMO. It is a fine a line...but most people will still expect you to disclose the replacements.
When a watch does not exist or has never been issued or sold...but instead it is made from scratch with a case from here, a hand from there and a movement from somewhere THAT is a Franken. And that is what Watchco does. It is a great watch, and it is an Omega watch, but not an original Omega. If I build a vintage Porche 911 with spare original parts in my garage is that an original Porsche? no. It may be better, or worse, more beautiful, or less, more durable or faster or sleeker...or less. But it won't be an original Porsche.
If the watch has no original parts it is not only a Franken, but it also becomes a fake. In the case of the watch the movements most often come from a different model that carries the same movement. As Archie says on the video. they would not take the moment out of a vintage SM300 to put on a watchco as it would be devaluating the vintage that can be sold for substantially more. They pick the movements from models of lesser commercial value. So your definition is correct, but mine is a little broader.
