The Steinhart you linked to isn't an exact copy - if it was IWC would be on to their lawyers I suspect. But it's obviously trying to be a cheaper alternative of something else and I just don't see their appeal if you set aside the lower pricetag. I don't think Steinhart has some forgotten pedigree as official watch supplier to Hermann Goering, and for their sake thankfully not (the question of why people like Axis pilot watches is something I don't get at all btw, but to each his own). More likely their history consists of some entrepreneur (possibly named Steinhart though not necessarily) deciding to make IWC lookalikes in China before having his German sister-in-law screw the back on so he can say they are "made in Germany", sell them for next to nothing and still make a profit. IMO you may as well save yourself another $500 and get a Parnis if all you are after is the pilot look, because that's all Steinhart are offering as far as I can see.
Found this on the IWC website:
There is some resemblance here, but I don't think it's to the extent that you're making it out to be. In fact, I'd say they're significantly different, in almost every way aside from font colour. I just don't get the 'trying hard to be something more expensive' argument, but maybe I'm just blind to the minor elements of the watches (v. possible).