I agree that the mimics would not be accurate, but like you say, maybe they'd be "pretty darn good" for the masses. The "Toy Camera" and other silly things that Fuji included in their JPG section of the camera seemed almost like an afterthought, but what it they were not afterthoughts? What if people wrote "lens overlays" just like they write apps for the iPhone and sold them? If someone could knock out a "Toy Camera" or "Soft Focus" filter, why not write one for "Leitz 50mm f/2 Summar"? Sell them like Presets for Lightroom processing. Why buy a silly Lensbaby $500 lens if you could easily copy it in software, from any camera's normal lens?
I'm just asking. Oddly, the most exciting thing about that Fuji camera were all those silly filters. (Sent the camera back; was just too small to hold. Complemplating Fuji XPro2 graphite now).
So many interesting (good) things about mirrorless cameras, even for an old guy. Seeing a preview of the actual image in the EVF viewfinder was interesting too. No more glancing down to the LCD to see if you got the exposure.