On the other hand (in practice), it has really pushed a few broken combinations to the forefront of the format and allowed for the proliferation of a generic, good stuff-style of deck that can be stifling for the format at all power levels
Saw It Coming is in my mind close to a strict improvement over the copies of Neutralize in the original list because foretelling it means youll be able to use more mana safely at sorcery speed on future turns
Rancor is a card that is different than many of the cards listed here, because creature enchantments are rarely played anymore
As such, the bottom line is that current fake cards are extremely unlikely to pass through the hands of a long-time Magic player without being detected but may fool newer players, and the best of the current counterfeit cards are very likely to pass unnoticed through tournaments, especially when double-sleeved and only seen from across the table
If the chosen creature is copying something else (for example, if the chosen creature is another Phantasmal Image), then Phantasmal Image enters as whatever the chosen creature copied