Lots of people hate the idea of them and I disagree. I personally love the idea. I think these should be opportunities, safety nets almost, for young moviemakers. The DVD copycat art and titling are the insurance they get copies on video shelves across the country, so why not have fun with it?
I'm thinking of Roger Corman wanting a ripoff of Rollerball and screenwriter Charles B. Griffith and director Paul Bartel, despite some apparent producerial tinkering, delivering Death Race 2000.
In a less direct comparison, I'm thinking of Charles Band having a poster up that said "Castle Freak" that caught the eye of Stuart Gordon, who asked on it and was told he could direct it and do whatever he wanted with it, so long as it had a castle and a freak, leading to Castle Freak.
I just think there's some way to use that opportunity to produce something more interesting, even if not better, than "Hey, that was exactly like Saw, except with every ounce of entertainment value drained out of it!"
But that's just me. I value people trying and failing to make something interesting much more than succeeding at making something uninteresting.