I like fiction as much as the next bloke here but really, I don't think Hasbro even give a rat's @$$ about the fiction. These are homages to pre-existing characters. It's as simple as that and the fiction is purely secondary. Treat them as you will, really. No one's right, no one's wrong and Hasbro don't even give a crap. Applying hypothesis01 means jack all no matter what fiction your trying to tenuously stick it onto.
The artists use the molds in their work b/c they like them. To them, as to us, they're awesome representations of classic characters.