I don't have a problem with this one. It's totally obvious that no one would ever confuse an old Toyota truck with a Ferrari. I see this as more of a well-crafted joke or toy, and I approve.
Conversions like the various Lambo fakes, the NSX/F50 fake, and the old Corvette-to-Daytona 'conversion', however, are totally teh suck. The people who do that are trying to get away with it and they actually hope you'll think they drive a real exotic. That's not a joke; that's a lie, and those people blow.