A similar conversation has recently occurred elsewhere...
It was about the Six Tek.
I suspect this might be one of those "private label" affairs referred to in that thread.
And bobafan:
You're being a little too skeptical, I think. For one, when you say "people in china", don't delude yourself that this is some foreign company ignorant of American copyright law; the vast majority of the cases you're referring to are American-based companies manufacturing lookalikes which just happen to
ship from China, where labor is cheaper (all the brand name stuff comes from there too, so Hasbro is no exception).
Also, I think you could be damn sure that if Nerf or BuzzBee was imitated in a fashion such as this, where the toy is virtually identical, down to the mold, there would be lawsuits. Can you imagine the fallout if there was suddenly some no-name-brand FOAM SHOOTER "Over Three Feet Long!" that took its munitions from a clip and had a really crap-tacular Front Gun that detached?
Somehow, I don't think that would just fly.
Imitation to an extent such as this seldom goes unprosecuted... because like you said, everyone just wants their cut of the business.