I think you are exactly correct.
As it turns out, the working He valves on aftermarket cases & some reps are designed like the gens. In case you missed it, read this.
However, as I see it, the only reason to have a proper working valve is so that, upon close inspection, the watch looks gen. Having an engraving or etching in the side of the case is an obvious give-away of fakery (to a knowledgeable viewer).
I have never been a big fan of aftermarket rubber straps (still not ). But, when you need to tone down the bling, all I can say is desperate times call for desperate measures.