I think everyone on here has had decent points. Here is how I look at it
I kind of have a rating system
1 being terrible 10 being great
1-4 is fake carbon fiber (fake anything really) stick on over lay
5-9 is real carbon fiber (or real anything) over lay
10 is real carbon fiber (or real anything ) replacement
Now where exactly a product lies whether it be on those numbers or between them also depends on the quality of the piece and how closely it resembles the piece it is covering/replacing and how well the fitment is on said piece.
however just because you can doesn't mean you should also comes into play
case in point you can cover and or replace just about every part on the mustang with a chrome or billet aluminum something or other