To me, vintage-style Versace involved people paying a lot of money to look really vulgar, but in an unmistakably expensive way. There was an art to it, that game of playing with those different levels of taste, and expressing them all in the end design.
This range - and I would say, unsurprisingly so - is a cavalcade of tat with the Versace logo attached, reproducing some classic motifs but with little consideration of how to properly balance cheapness with expensive touches, culminating in stuff like cushions that wouldn't be fit for an incontinent cat to sit on, and items that will inevitably disappoint in the light of day because they're simply overpriced for what they are, both in terms of materials and thought.
If people can find a few pieces in that collection at a reasonable cost, which provide them with a few months of fun before they start to fall apart, then I think they're making the most of it. But despite the excitement, 'affordable Versace' might not amount to something worth paying money for, no matter how wonderful the idea is.