Okay, in the aviation world we have the CFRs (Code of Federal Regulations) which actually defines what an overhaul is and what a rebuild is etc. The 15 dollars regulators are not overhauled, they are not rebuilt, they are not even serviced. They have been given what in aviation is called a "Krylon Overhaul" but in scuba diving world it is the Armor All Overhaul, if even that.
These fine specimens are hawked complete with patina and shined with Armor All. They are taken apart, the O rings shined up and then every thing goobed up nice with silicone grease or shoe polish and then reassembled, sort of, out of whatever pieces were in it originally, sometimes leaving out important bits, who cares, it is eBait, right

When I service my regulators for myself or for whatever purpose, and specifically state (a) (my) regulator has been serviced, they have gotten, as needed:
1. Actual service kits, first and second stage
2. New parts (or sometimes good serviceable parts) as needed (mouthpieces, diaphragms, exhaust valves etc)
3. Replica parts from vdh where appropriate
4. New hoses if needed
5. Mild vinegar rinse followed by ultrasonic cleaning in distilled water followed by an appropriate degreaser such as Dawn, Simple Green etc.
6. Correct lubrication
7. No left over parts or incorrect "make do" parts
8. Initial IP set, cycled, leak tested, cycled again, IP final adjustment
9. Second stage adjustment to correct specs using a Magnahelic
10. And then, where appropriate, I pool test the equipment
This post is not directed at anyone or result from any specific recent incident, just a generic observation of the scuba world and CL and eBait. Of course, what I have seen some so called "tech" do has occasionally been worse.
Of course, all this old junk will kill ya anyways, so maybe it does not matter, just goob her up and hope for the best.
James