Is it ok to copy a W5 head and make it better or are we just mad at Speedmaster

It's not even close to the same situation. There's no current source for a w5 type head and the original supply is flawed and was a low volume offering. Making a "copy" isn't going to impact anyone.
Cheap copies of legit parts that are still being made are an entirely different matter.
Speedmaster is garbage, always has been, even under their previous incarnations/names.