I don't think that most are worried about the material as much as the hole placement.

If I am correct the originals had a 1/2 hole top and bottom with 3 full holes in the middle. The new ones have full holes top and bottm and 2 more in the middle.

As far as the cheese grated effect, that is a pretty bad excuse. No reason they can't make the die to produce the cheese grater effect.

It is better then nothing for sure. But I don't think it would have cost any more to make the appear much more correct.