Replica - We're talking museum-grade stuff here. Matching the textiles identically and utilizing the same construction methods inside-and-out. Generally you would need access to an extant piece to achieve this. It's a lofty personal goal, and generally not sustainable as a product offering.
Screen Accurate - These pieces look as close as possible to what is visible on screen. The textiles and construction methods may differ (such as different linings, quick-change rigging, etc), but from the audience it will read the same. Of note, for years we believed Frank's dinner corset was black velvet until the original turned up and we all learned it actually had a Paisley design. Nothing wrong with making the corset either way.
Performance Grade - Differences are noticeable, but forgivable. The intention is still very apparent even if some substitutions are obvious and there's room for upgrades. Key examples would Janet's ripped slip, Rocky's rigged wraps, Brad's plaid bow-tie & cummerbund, etc.
Audience Participation - You clearly know who they are dressed as, but you wouldn't want it representing your cast on stage. Especially if it came out of a bag.
Me? I'm typically somewhere between Performance Grade and Screen Accurate. I try to source materials I can readily stock and find again, modify/draft patterns that can adjust to a range of sizes, modify/rig costumes for quick-changing, and most of all - work within my personal capabilities.
My skills, my machines, and what I'm willing/able to do for a fair wage. I could make an amazingly screen accurate piece, but if it costs $2000 I have no idea who I'm going to sell it to. Even worse, what would happen if I shipped it out and it didn't fit because someone gave me crappy measurements. That's a huge loss for both sides of the transaction.
Sometimes I can't find the exact textile. Hell, sometimes I can't even be sure what it is. So I have to make a choice. Let's say the ribbons on Columbia's shorts. Maybe I find an awesome glitzy ribbon that (miracle of miracles) comes in all 5 colors - but does it come in both widths that I need, and can I find more of it again? If it's vintage is it durable? If it's too wide, do I really want to resize them all? Cuz that's going to add quite a bit more to the price.
Every change. Every modification. They're time consuming. Sometimes they involve additional 'testing' to see if it will actually 'work out'. And sometimes they don't, and I've wasted my time and made no money. Above all, I want to be consistent. A lot of people ask for substitutions that I wouldn't recommend and I really don't want my name to be attached to those potential failures. "Mina made it, but it fell apart." And y'all have done this to me.
For all of these reasons I have always shared my research. I let y'all know what I see, even if it's not what someone else sees. At least now you know where to look. I share my patterns and methods. I hope to inspire people. I'm not that rigid about screen accuracy. I think people should make what they're able to make. And if you don't like what I make I hope you can find someone else who does - I even maintain a list of other people who make Rocky costumes.
I'm not a hobbyist. I have been sewing since I could reach the pedal. I studied costume design in college (though finished with an art degree after my dad died). I've worked for major theatrical suppliers and theatres. I've invested in industrial machinery and advanced educational opportunities.