Am a bit unsure on response. If it has an Easton Programme badge on it, was that all legit with Easton's approval..? Or do you think its pretending to be something its not..?
(Last Ebay pic put up shows rear stay arrangement a bit better by the way, plus the tubing decal)
Of course, Easton are simply the Tubing supplier to the manufacturer.
Lots of frames were assembled in the far east using Easton tubes, if it bears the stamp, then its certainly Easton tubed. How the bike was badged up depends on the company responsible. Coyote, Merlin, Handsome Dog, Obsession.
All the above and many many more were essentially a generic frame manufactured in the far east, and sold under different guises. Obviously there were many many different variations available, twin stays, rear wishbones etc, Replaceable gear hangers or not, headtube gussets etc etc.
Come the end of the model year change, frames would be offered up in batches, at even greater reduced prices.
At one point I could buy small batches of the lower model for as little as £49.00 +Vat, and Easton tubed Models, at Starting prices of £99.+vat.
If you take Merlin cycles (mail order not American TI) for example, Buying massive batches of frames, and then OE shimano, theres little surprise you could buy a a fantastically well specd bike for 35% less than say the equivalent model trek marin specialized etc.
The value for money element alone, enabled it to get a head start in the reviews. Coyote was much the same, only id say having perhaps having less commercial success than Merlin Cycles. ( I suppose this was purely due to buying power, ad budgets, customer awareness etc).