I have always suspected that the Gretsch Custom Shop operates in the same way. I've never sen it in print, but the models available from the Gretsch Custom Shop are suspiciously similar to the models made in Terada. My personal opinion regarding FMIC's Custom Shop(s) is that they are basically custom-finish shops with grossly inflated prices.
I've owned precisely one Custom Shop Fender and the QC was a joke. As shipped it was unplayable and required extensive setup before it was playable. I've never seen Standard series Fenders (made in Mexico) that were shipped with the problems this "Custom Shop" instrument had shipped with. I may have been born at night, but I wasn't born last night, and I can see a ripoff for what it is. Fender has used the concept of a Custom Shop as a profit builder for some time now. But I suspect that the distinction is artificially enhanced to maximum effect. When they built the 50th Anniversary Strats, ten years ago, there was all sorts of hoopla regarding the name of the luthier that was attached to any given Custom Shop 50th Anniversary Strat and examples built by certain luthiers moved much more quickly. It struck me as artifice. Were not talking about D'Angelico vs D'Aquisto vs Benedetto here. Were talking about guys that take a CNC body, apply the finish and bolt on the metal bits that turn a mass produced body into a finished product . . . but the customer base was trading in cachet based upon very little, if anything, in the way of solid fact. Somehow a C.S. Strat built by one name was automatically better than an otherwise identical C.S. Strat built by another name.
All that having been said, I am satisfied with my GSR T-400 and can't complain. If the body is a CNC product of some Asian factory I don't mind. I got a pretty decent guitar with a unique set of features (17", 2" deep, solid top, long scale) and the price was stiff, but not prohibitive. The features are very similar to what I had identified over forty years ago when I idealized the Byrdland, but shortly thereafter realized that I wanted a longer scale and that Gibson humbuckers were not to my liking. As little as a six months ago I was exploring avenues to obtain such an instrument without paying ridiculous prices. I had actually planned on buying a T-400 with next spring's tax refund, and, in effect, that's exactly what I have done. I saw the opportunity and I struck. Fortunately, this happened when I had a bit of cash around and it was relatively painless.