I agree with calling it "low quality", but not necessarily "phony" for "fake".
My analogy: You buy a coffee maker in a box that says on the side "comes with gold screen filter!" has instructions on the box telling how to use the gold screen to filter coffee, and then when you open the box, all it has is a sheet of paper with the screen pattern printed on it with gold ink (and that clearly can't filter coffee).
These mirrors come with a grid around the central hole that looks like retroreflective mesh to close inspection, has instructions on the back that are clearly copied from those on the back of retroreflective aimer signal mirrors, but doesn't deliver.
Doug Ritter's take (quote from the article below): "In my opinion, the only apparent function of the fake mesh is to fool people into thinking they are buying a mirror with a genuine retro-reflective one-handed aimer.
Doug's article:
http://www.equipped.org/phony_signal_mirrors.htm