I think that as long as the main 'base' of the car is from 1947, it doesn't matter what's been done to it, it's still a 1947. There are much better ones maybe and there are also much worse ones but if this car is not a 'lie', ie a false reconstruction to pretend it's a 1947, then let's just appreciate it still is a historic 63-year old car that may have suffered and been subject to some questionable restoration work but which has still survived the test of time.
It's true that if someone was to take it apart again and rebuild it properly using correct bits which wouldn't show after a beautiful paintjob then it's no different from the very accurately detailed yet very extensive reconstruction which the VW38 is currently undergoing. This, incidentally, is actually why I would have liked to see the VW38 left as found, an 'ugly' survivor full of unfortunate yet historic updates, where a few crucial 1938-only details would have still stood out. Once beautifully finished - and I have no doubt it will be painstakingly faultless in its accuracy - you won't be able to tell what's original from what's been remade. It's all debatable but I think I prefer to see the untouched historic evidence stand out, even if there are only fragments of it.