In this case we have a fully original Casio watch extracted from its resin case and installed in a custom steel case (which is indeed of very high quality, I used to own one so I have a first hand experience on this) whilst in the "Seiko" case we have a fake dial (that has the brand name printed on) and fake hands installed on a Seiko movement and enclosed in a custom case (with possibily some brand engravings too, I don't know).
Much worse, always IMHO of course.