'what is art' is a never ending debate. I think it comes down to each individual of what art is to them.
creating art is an action, the piece of art is an object. its different things.
reproducing surely can be art. Like if someone records a David Bowie song and puts it on their album, that song is still art to me. They may be reproducing his song, but they are playing and creating music, creating art.
Bootlegs figures is a form of art to me as well. Its reproducing, but its also creating. Its not a form of art that I like, but its still art to me. Casting molds is creating art. Now if someone is just selling a parted out Hot Toys figure, they are not artists. But if they re-cast a figure, repaint it, and produce clothing for them, its art to me. Just not art that I like.
Picasso created works of art. They were reproduced a billion times as posters. That poster is now up on someones wall and that poster is art. It may not have the value of a original Picasso, but that poster is still art.