I keep telling myself to stay away from this 'discussion'....but we're all car blokes so common sense goes out the window.
Here's my once only take on it.
What is a Shelby' car? If it was made by the Shelby company, or made under a Shelby contract by another company for Shelby, then surely, yes, it must be a 'Shelby'.
What is a 'Cobra'? If it's preceded by the Shelby name, it can only be one of the 998 cars that left the Shelby premises back in the 1960s
If it's a Shelby Cobra Continuation car, then it is a Shelby authorised 'replica' of the '60s Shelby Cobras. You can try and get around that description using a semantics argument, but you can't get away from the fact that a Shelby Cobra Continuation car is not a Shelby Cobra.
I'm out
Cheers!
Glen