Yes. It's an old obsequious term for replica watches with a worthless name on the label.This article, from nearly 10 years ago, uses the term "close 1-to-1 homages" to describe design copies.
Homage vs. Replica vs. CounterfeitThis article is a discussion of the terms homage, replica and counterfeit watch, and the implications behind them.wornandwound.com
It was already in regular use on these boards when I started coming here in 2017.